Abstract In this work, a quantum dissipative model is employed to investigate the influence of a perpendicular magnetic field on the photoluminescence (PL) spectrum of a quantum well embedded within a microcavity. This model incorporates both the exact electron-hole interaction within the semiconductor and the light-matter coupling between the fundamental photonic mode and the fermionic particles. The loss and pumping mechanisms are described using the quantum master equation, and the PL spectrum is determined via the quantum regression theorem. Our findings demonstrate that the magnetic field acts as a control mechanism in the polariton emission energy, the emission linewidth and the intensity distribution along the emission line. Finally, it is observed that the magnetic field can redistribute the density matrix occupations leading to modifications in the average number of polaritons in the system.