The Collaborative International Dictionary of English v.0.48:

Magnetize \Mag"net*ize\, v. t. [imp. & p. p. Magnetized; prep.
   & adv. Magnetizing.] [Cf. F. magn['e]tiser.]
   1. To communicate magnetic properties to; to make magnetic;
      as, to magnetize a needle.
      [1913 Webster]

   2. To attract as a magnet attracts, or like a magnet; to
      move; to influence.
      [1913 Webster]

            Fascinated, magnetized, as it were, by his
            character.                            --Motley.
      [1913 Webster]

   3. To bring under the influence of animal magnetism.
      [1913 Webster]

WordNet (r) 3.0 (2006):

magnetized
    adj 1: having the properties of a magnet; i.e. of attracting
           iron or steel; "the hard disk is covered with a thin coat
           of magnetic material" [syn: magnetic, magnetized,
           magnetised] [ant: antimagnetic]