Born in La Plata, Magallán made his senior debut for Gimnasia La Plata on 10 August 2010.[2][3] In April 2012, he was reported to have been scouted by English club Manchester City.[4] On 26 July 2012 Boca Juniors paid $1.4 million for 80% of the rights to Magallán's services.[5] In October 2014, Magallán scored his first goal for Boca Juniors against River Plate in the Superclásico.[6]
Ajax
He signed for Dutch club Ajax on 2 January 2019.[4][7] He moved on loan to Spanish club Deportivo Alavés on 2 September 2019.[8] Magallán scored his first goal for Alavés in a 2–0 win over Celta Vigo on 20 October 2019.[9]
In September 2020 he moved on loan to Italian club Crotone.[10] In August 2021 he moved on loan to Belgian club Anderlecht.[11]
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