Magnetic particle imaging (MPI) is a cutting-edge imaging technique that is attracting increasing attention. This novel technique collects signals from superparamagnetic nanoparticles as its imaging tracer. It has characteristics such as linear quantitativity, positive contrast, unlimited penetration, no radiation, and no background signal from surrounding tissue. These characteristics enable various medical applications. In this paper, we first introduce the development and imaging principles of MPI. Then, we discuss the current major applications of MPI by dividing them into four categories: cell tracking, blood pool imaging, tumor imaging, and visualized magnetic hyperthermia. Even though research on MPI is still in its infancy, we hope this discussion will promote interest in the applications of MPI and encourage the design of tracers tailored for MPI.