The Collaborative International Dictionary of English v.0.48:

Magnetization \Mag`net*i*za"tion\, n.
   The act of magnetizing, or the state of being magnetized.
   [1913 Webster]

WordNet (r) 3.0 (2006):

magnetization
    n 1: the extent or degree to which something is magnetized [syn:
         magnetization, magnetisation]
    2: the process that makes a substance magnetic (temporarily or
       permanently) [syn: magnetization, magnetisation,
       magnetic induction]
    3: the physical property of being magnetic [syn:
       magnetization, magnetisation]