The present work discusses the effect of magnetic field on the friction and wear of steel scratched by TiC insert. The steel was lubricated by oil and dispersed by iron, copper and aluminium powders as well as polymeric powders such as high density polyethylene (PE), polymethyl methacrylate (PMMA) and polyamide (PA6). Molybdenum disulphide (MoS2) and graphite (C) were added to the oil as dispersant. Paraffin oil was used as lubricant. Friction coefficient and wear of the tested composites were investigated using a tribometer designed and manufactured for that purpose. It was found that application of induction magnetic field decreased friction coefficient. The decrease was significant for oil lubricated steel and oil dispersed by aluminium, copper, PMMA and PA6 + 10 wt. % C, while addition of iron, PE and MoS2 particles showed slight friction decrease. At no magnetic field friction coefficient for oil dispersed by aluminium and copper particles showed values lower than that observed for oil dispersed by iron particles. The lowest values of friction coefficient were displayed by oil dispersed by PE particles. Magnetic field caused significant wear increase for oil lubricated steel, where aluminium, copper and PA6 + C particles displayed relatively higher wear, while addition of iron, PE, PMMA and MoS2 particles showed slight wear increase. At no magnetic field wear decreased due to the action of aluminium particles which formed a continuous layer on the steel surface and consequently decreased wear. Wear of oil lubricated steel dispersed by PE particles displayed relatively low values. Magnetic field showed no significant change on wear of the steel surface.