After a productive four-year in Congress representing the lone district of Zambales, he returned to work in the private sector where he ventured into various industries including garment manufacturing and export, semi-conductor, and travel and tourism.

Running for the elections and hoping to follow his father's footsteps, he lost to actor Senator Joseph Estrada.

In the 1995 elections, President Fidel Ramos invited Magsaysay to join the senatorial slate of the Lakas-Laban Coalition.

The Senate session hall and offices found its new home at the GSIS Building in the Financial Center in Pasay City.

On January 16, 2001, Magsaysay voted in favor of opening the bank envelope containing evidence in the impeachment case of President Joseph Estrada.

As a legislator, he has co-authored several laws including: In 2013, Magsaysay ran for senator under Team PNoy, the administration coalition.