Disclosed herein is a panel-type magnetic toy having compartments where permanent magnets move. The magnetic toy includes a polygonal panel body having a space therein, a plurality of compartments defined in the space of the panel body, and separated from each other by at least one partition wall, and a permanent magnet movably provided in each of the compartments. According to this invention, as the magnets are rolled in the hollow compartments partitioned by the partition walls, attractive force is generated between the magnets of neighboring panels. Thereby, it is possible to connect the panels to each other at various positions. Since the magnets move according to the contact position of the panels, it is possible to manufacture variously shaped structures using a small number of panels, thus increasing creative potential.