"The Magnificent Possession" is a science fiction short story by American writer Isaac Asimov.

It was first published in the July 1940 issue of Future Fiction and reprinted in the 1972 collection The Early Asimov.

The author recalls that the story, an attempt at humour, was embarrassing to read later, and that he was glad that his long-time editor, John W. Campbell, never saw it, as he would certainly have rejected it.

When Future Fiction accepted his story Ring Around the Sun, he dug out Ammonium and submitted it as well.

Despite not having properly tested the plating process, he obtains some publicity for his discovery, which leads him into all sorts of problems with gangsters who want to steal his formula and crooked politicians who seek to exploit him.