The Magnolia Blossom Festival is one of the major festivals in Magnolia. It attracts around 40,000 people every year and has been featured on television networks in the past. Since 1988, the Magnolia Blossom Festival, together with the World Championship Steak Cookoff has been attracting thousands of people to Magnolia. It features music entertainments, arts and crafts, a 5k fun run, a fishing tournament, and of course a steak cook-off.

The festival starts off with the Blossom Festival Parade, a parade of the chefs of World Championship Steak Cook-off. Another highlight of the festival is the Sidewalk Art Show, which was started by Marjorie Chamberlain, an art teacher who desired for her student?s paintings to be displayed. An annual Treasure Hunt is also one event held to kick off the week-long festival.