Abstract: A magnetic retrieval assembly includes a handle. A tube has a first end and a second end and the first end of the tube is attached to the handle. A retrieving member has a retrieving end and a receiving end. The retrieving member has a cylindrical shape. The retrieving member is magnetized when subjected to an electric current. The receiving end is attached to the second end. An electro-magnetic field inducing circuit is mounted on the retrieving member and extends to the handle. The electro-magnetic field inducing circuit is actuated to magnetize the retrieving member. The retrieving member may be positioned near a metallic object and actuated to magnetically retrieve the metallic object and de-actuated to release the metallic object.