Magnetic field (MF)-assisted technology is considered a potentially effective approach to improve the edible quality of meat products. This study aims to investigate various parameters (0 mT–4.5 mT) of MF-assisted marinating and preheating processes on the water-holding capacity and flavor of prepared meat patties. Analyzing cooking loss, low-field nuclear magnetic resonance, emulsion stability, and rheological properties confirmed that the water-holding capacity of meat patties rises initially and then falls with increasing MF strength during two processes (marinating and preheating processes). Furthermore, MF-assisted processing boosts sulfur compounds production in meat patties, resulting in higher concentrations of keto alcohols such as 2-heptanone, ethanol, and amyl alcohol, which contribute positively to the flavor and sensory properties. Overall, an appropriate MF intensity with 3.0 mT for 3 h at marinating and with 4.5 mT for 45 min at preheating could enhance the water-holding capacity and flavor of prepared meat patties, indicating promise for the meat industry.