Abstract: In this review, we discuss recent developments in both the theory and the experimental searches of magnetic monopoles in past, current and future colliders and in the Cosmos. The theoretical models include, apart from the standard Grand Unified Theories, extensions of the Standard Model that admit magnetic monopole solutions with finite energy and masses that can be as light as a few TeV. Specifically, we discuss, among other scenarios, modified Cho-Maison monopoles and magnetic monopoles in (string-inspired, higher derivative) Born-Infeld extensions of the hypercharge sector of the Standard Model. We also outline the conditions for which effective field theories describing the interaction of monopoles with photons are valid and can be used for result interpretation in monopole production at colliders. The experimental part of the review focuses on, past and present, cosmic and collider searches, including the latest bounds on monopole masses and magnetic charges by the ATLAS and MoEDAL experiments at the LHC, as well as prospects for future searches.