The effective Lagrangian and mass operator are calculated for planar charged massive and massless fermions in a constant external homogeneous magnetic field in the one-loop approximation of the 2+1 dimensional quantum electrodynamics (QED_{2+1}). We obtain the renormalizable effective Lagrangian and the fermion mass operator for a charged fermion of mass m and then calculate these quantities for the massless case. The radiative corrections to the mass of charged massless fermion when it occupies the lowest Landau level are found for the cases of the pure QED_{2+1} as well as the so-called reduced QED_{3+1} on a 2-brane. The fermion masses were found can be generated dynamically in an external magnetic field in the pure QED_{2+1} if the charged fermion has small bare mass m_0 and in the reduced QED_{3+1} on a 2-brane even at m_0=0. The dynamical mass seems to be likely to be revealed in monolayer graphene in the presence of constant homogeneous magnetic field (normal to the graphene sample).