We review recent theoretical developments on the nanoscale radiative heat
transfer in magneto-optical many-particle systems. We discuss in detail the
circular heat flux, the giant magneto-resistance effect, the persistent heat
current, and the thermal Hall effect for light in such systems within the
framework of fluctuational electrodynamics, using the dipolar approximation. We
show that the directionality of heat flux in such systems can in principle be
understood by analyzing the competing contributions to the heat exchange of the
magnetic-field-dependent dipolar resonances of quantum numbers m = +1 and m =
-1. Some potential applications of these effects to thermal and magnetic
sensing are also briefly discussed