Magnetic separation has been historically active in several different industries, yet has not been utilized in petroleum refining until recently. Development of economical permanent magnets with high magnetic strength has led to a new process known as MagnaCat(R). The MagnaCat(R) Process separates less active (high metals) particles catalyst from equilibrium Fluid Catalytic Cracking (FCC) catalyst, producing a higher activity/lower metals catalyst for recycle. Pilot FCC studies showed lower hydrogen, dry gas, and coke make with higher wet gas and octane from catalyst separated by MagnaCat(R). With the use of a MagnaCat(R) Process unit, a refiner would produce an economic advantage of $0.20 to $0.40/Barrel of FCC charge and enhance unit operability.