This study investigated the efficacy and safety of magnesium alloy screws in repairing small bone fractures using goat lateral femoral condyle fracture models. The animals were randomized into an experimental group receiving magnesium alloy screws (CS/Ф 3.2 × 28 mm, Suzhou Zhuoqia Medical Technology) and a control group receiving titanium alloy screws (CS/Ф 3.2 × 28 mm, Samo Medical Technology Co., Ltd). Postoperative evaluations at 3- and 6-month intervals included assessments of fracture repair, animal health, hematological parameters, histology, and screw degradation. Hematological tests revealed no significant intergroup variations. While gas accumulation near the magnesium screws was noted, the fracture healing outcomes were similar between the magnesium and titanium screw groups, with no deleterious health effects attributed to magnesium screw degradation. Gas liberation during magnesium degradation had no detrimental effect on small fracture recovery. Magnesium screw implementation appears to present no general health risks. Consequently, magnesium alloy could be a promising biomaterial for future fixation screw applications in orthopedics.