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):

magnetize
    v 1: make magnetic; "The strong magnet magnetized the iron
         shavings" [syn: magnetize, magnetise] [ant: degauss,
         demagnetise, demagnetize]
    2: attract strongly, as if with a magnet; "She magnetized the
       audience with her tricks" [syn: magnetize, mesmerize,
       mesmerise, magnetise, bewitch, spellbind]

Moby Thesaurus II by Grady Ward, 1.0:

50 Moby Thesaurus words for "magnetize":
   act on, adduct, allure, anesthetize, approach, attract,
   be magnetic, bear upon, bewitch, captivate, charm, degauss, dope,
   drag, draw, draw on, draw towards, drug, electromagnetize, enchant,
   entrance, exert influence, fascinate, get cozy with,
   have an attraction, hypnotize, lead on, lobby, lobby through,
   lull to sleep, lure, magnet, make advances, make overtures,
   make up to, mesmerize, narcotize, pull, pull strings, pull towards,
   put to sleep, put under, rock to sleep, sedate, take, trance, tug,
   wile, wire-pull, work on