A magnetic tie clip is provided, which includes a first component that is fastened with a button on a shirt and a second component which is fastened on a tie. The second component includes a magnet which is magnetically coupled with the first component in order to secure the tie to the shirt. The first component further includes a button fastener which attaches with the button, a magnetic member which is magnetically coupled with the second component, and a connector which flexibly connects the button fastener and the magnetic member. The connector may be set to a length which provides for flexible movement of the magnetic member relative to the button fastener, such that the tie is secured close to the shirt but is permitted to move as the wearer moves.