Dynamics of 2D magnetized complex plasmas is investigated based on the driven-dissipative dynamics simulation. Besides the usual Yukawa potential, a modified Yukawa potential which includes the effects of external magnetic field B on the shielding distance of the charged dust particles is used to account for the electrostatic interaction of the charged dust particles. It is found that shielding distance of the charged dust particles is greatly increased due to the magnetization of background ions, and the resulting equilibrium diffusion of the system differs from that of usual Yukawa system. Collective oscillation of the system is discussed in terms of Fourier analysis of velocity-auto-correlation function.