Current research is in agreement with the presence of a magnetic compass in living beings including humans. The two most accepted explanations that demonstrate the existence of magnetoreceptors in living beings are, the radical pair and the biogenic magnetite, which are discussed here with its respective experimental evidence and support. It indicates the presence of magnetite crystals in otoliths, among different inferior species of animals. Moreover, the magnetite found in several organs of human body allows predicting the existence of such element, in otoliths of vestibular system as well; further, anticipates that human magnetoreception is an additional function of the vestibular system. These geomagnetic signals would modulate balance, movement and spatial positioning of man in concordance of gravity values. This new field of otomagnetism opens new research areas for understanding the mechanisms involved in balance, equilibrium, orientation, and space positioning in normal and disease populations. Likewise, this could be the starting point for application of new human neurorehabilitation procedures, in those magnetoreception-associated neurological disorders that happen in the earth, the sea or the air.