Magnesium is the lightest and one of the most abundant elements in the universe. In addition, magnesium possesses several other benefits like excellent castability, high damping capacity, good electromagnetic shielding, and excellent machinability. These inherent characteristics of magnesium-based materials ensure fuel economy, reduced CO2 emissions, and a greener earth. Furthermore, as magnesium-based materials are almost 35% lighter than aluminum-based materials, a tremendous surge in magnesium demand over the next 5 years is expected. One way in which the engineering capabilities of magnesium and its alloys can further be enhanced is to use composite technology. The addition of nanoparticles, for example, leads to enhanced tensile, compressive, fatigue, creep, dynamic, tribological, and corrosion properties. In addition, amorphous and hollow reinforcements can also enhance targeted mechanical/physical properties. Accordingly, the present study will highlight the key capabilities of magnesium-based composite technology. An attempt is made to summarize on the size effects and type of reinforcements such as metallic or ceramic nanoparticles, and amorphous and hollow reinforcements on the microstructural and mechanical properties of monolithic pure magnesium.