Environment-friendly　and　cost-effective　remediation　strategies　are　highly　needed　to　reclaim　the　lead　(Pb)　contaminated　soils.　The　present　study　evaluated　the　efficacy　of　novel　magnetic　wood-modified　biochar　(MWB)　and　pristine　wood　biochar　(WB)　at　different　application　rates　(0.5–1.75%)　for　remediation　of　Pb-contaminated　soil.　Both　MWB　and　WB　amendments　effectively　reduced　the　transfer　and　bioavailability　of　Pb　in　the　soil.　MWB　(1.75%)　amendment　remarkably　influenced　rice　plant　growth　in　terms　of　improved　biochemical　and　physiological　attributes.　The　amendment　of　Pb-contaminated　soil　with　MWB　also　proved　beneficial　in　reducing　oxidative　stress　in　rice　plants.　A　significant　increase　in　root　iron　plaque　(Fe-plaque)　formation　was　also　observed　with　1.75%　MWB　treatment.　The　sequential　extraction　results　demonstrated　the　increased　transformation　of　exchangeable　Pb　fractions　to　non-exchangeable　Pb　fractions.　Application　of　1.75%　MWB　reduced　the　Pb　content　in　roots　and　shoots　by　48.6%　and　60.2%,　respectively.　Present　findings　clearly　validated　the　usefulness　of　MWB　as　a　cost-effective　remediation　strategy　for　Pb-contaminated　soil.　©　2022,　The　Author(s)　under　exclusive　licence　to　Iranian　Society　of　Environmentalists　(IRSEN)　and　Science　and　Research　Branch,　Islamic　Azad　University.