Weak lensing magnification probes the correlation between galaxies and the underlying matter field in a similar fashion to galaxy–galaxy lensing shear. Although it has long been sidelined in favor of the latter on the grounds of poorer performance in terms of statistical significance, the provision of a large sample of high-redshift submillimeter galaxies by the Herschel observatory has transformed the landscape of cosmic magnification due to their optimal physical properties for magnification analyses. This review aims to summarize the core principles and unique advantages of the cosmic magnification of high-redshift submillimeter galaxies and discuss recent results applied to cosmological inference. The outlook and challenges of this observable are also outlined, with a focus on the ample scope for exploration and its potential to emerge as a competitive independent cosmological probe.