The town hosts a nuclear research lab, the Institute of Atomic Physics (Romanian: Institutul de Fizicǎ Atomicǎ (IFA)) and its National Institute for Physics and Nuclear Engineering. Between 1957 and 1998, it had a SovietVVRSresearch reactor, now closed down. The Faculty of Physics of the University of Bucharest is also located in Măgurele.
Its name is derived from a Romanian word possibly of Dacian origin, măgură, meaning "hill".