A magnetic carrier includes a magnetic material-dispersed resin core containing at least a magnetic material and a binder resin. The surface of the magnetic material-dispersed resin core is coated with a coating material containing at least a fluorine resin and 1 to 40 parts by weight of fine particles based on 100 parts by weight of the fluorine resin. The coating material is in an amount of 0.3 to 4.0 parts by weight based on 100 parts by weight of the magnetic material-dispersed resin core. The magnetic carrier has a contact angle of 95 to 125.degree.. A two-component developer is also provided which makes use of the magnetic carrier.