Magdalen was among the first colleges in Oxford to teach science. Nine individuals associated with Magdalen have been awarded Nobel Prizes, seven of them for their work in science and medicine, one for literature, and one for economics.

Magdalen received planning permission for the Science Park in May 1989. Later that year the college agreed with Prudential to set up the Park as a 50/50 joint venture. The aim was to encourage the formation and growth of science based businesses and innovative companies.

The first building on the Park was The Magdalen Centre opened by Prime Minister John Major in 1991, closely followed by the opening of Sharp Research Laboratories in 1992. There are now over 50 companies on the Park operating in a variety of industry sectors including the bioscience, computer, telecommunications and environmental science industries.