He competed in the 1928 Summer Olympics with the Italy national team.

The match finished 3–2 for Internazionale, with both of Livorno's goals being scored by Magnozzi.

In 1930 he moved to A.C. Milan, where he served as the club's captain, and remained there until 1932, when he was sold back to Livorno.

Magnozzi was a member of the Italy national team which won the bronze medal in the football tournament at the 1928 Summer Olympics, and winning the 1927–30 Central European International Cup & making runner-up in the 1931–32 Central European International Cup.

As a football coach, Magnozzi led Milan, Lecce, AEK and Livorno, helping the latter club to Serie A promotion after winning the 1936–37 Serie B title.