This article reports an experimental investigation of the impact of magnetic field on corona discharge activity in mineral oil, using both ultrahigh-frequency (UHF) and fluorescence techniques under ac voltage. The results show that corona inception voltage (CIV) increased under ac voltage with varying harmonic frequencies without considering any phase shift and reduced marginally under magnetic field. In addition, the impact of the magnetic field shifted the dominating frequency of the UHF signal (0.9 GHz) obtained under ac voltage toward lower frequencies (0.3 and 0.6 GHz). Under high magnetic fields, the parameters such as rise time, fall time, and pulsewidth of the fluorescence signal increased in its magnitude compared to its effect without a magnetic field. Also, using both the UHF sensor and the fluorescence sensor, there was no clear difference in the phase-resolved partial discharge (PRPD) pattern caused by corona discharge (with and without magnetic field). Furthermore, the number of discharges is observed to be high under the impact of harmonic ac voltages with third- and seventh-order containing total harmonic distortions (THDs) of 4% and 40%.