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A magnetic platinum catalyst and its application as an engine fuel enhancer. The method of making the magnetic platinum catalyst includes : the use of neodymium magnetic alloy containing 25-50% of the neutral neodymium (NdFeB) alloys, processed into a diameter of 13 mm, a length 9 mm cylinder, as a catalyst carrier. The surface of the catalyst carrier is treated with antioxidant. A platinum group metal is used as the catalyst rare earth materials to produce a catalyst acid soaking solution. The solution includes 0.01-0.2% platinum and 0.01-0.15% rhodium. The pH of the solution is adjusted to 4 using oxalic acid. After soaking in the solution, draining, and drying, the carrier is placed in a muffle furnace and baked. The catalyst is firmly attached to the surface of the carrier to form a magnetic platinum catalyst having catalyzing ability. Such catalyst is used in connection with engine fuel to enhance its operation.