We study the dynamical generation of masses for fundamental fermions in quenched quantum electrodynamics in the presence of weak magnetic fields using Schwinger-Dyson equations. Contrary to the case where the magnetic field is strong, in the weak field limit the coupling should exceed certain critical value in order for the generation of masses to take place, just as in the case where no magnetic field is present. The weak field limit is defined as $eB\ensuremath{\ll}m(0{)}^{2}$, where $m(0)$ is the value of the dynamically generated mass in the absence of the field. We carry out a numerical analysis to study the magnetic field dependence of the mass function above critical coupling and show that in this regime the dynamically generated mass and the chiral condensate for the lowest Landau level increase proportionally to $(eB{)}^{2}$.