Magnetic field–assisted finishing (MAF) is used to polish free-form surfaces. The material removal mechanism can be described as a flexible “magnetic brush” that consists of ferromagnetic particles and abrasives that arrange themselves in the working gap between the magnet and the workpiece. Relative motion between the brush and the workpiece causes microcutting and improves surface finish. In this study, the contributions of the magnetic and polishing force components to the total force were evaluated. The effect of varying the polishing conditions, such as the working gap and the size of the ferromagnetic iron particles, on polishing forces, surface roughness, and material removal rate was also analyzed. It was observed that the polishing forces varied considerably with working gap. Also, the iron particle size was found to have a strong relation to the rate at which the surface roughness improved. Surface roughness values of 2–3 nm were achieved.