This work examines the behavior of a squeezed Maxwell fluid in the vicinity of a sensor surface subjected to an externally imposed magnetic field. Maxwell fluids constitute a significant category of viscoelastic non-Newtonian fluids commonly encountered in applications such as polymer manufacturing, biomedical processes, and industrial transport mechanisms. The primary aim of the present analysis is to explore how the magnetic field influences the flow dynamics, temperature distribution, and transport phenomena during the squeezing motion. The problem is mathematically modeled using the fundamental equations governing fluid motion derived from the Navier–Stokes framework, together with the constitutive equations associated with the Maxwell fluid model. Through the use of suitable similarity transformations, the original partial differential equations are converted into a coupled system of nonlinear ordinary differential equations. These transformed equations are then solved numerically by applying the Runge–Kutta method in conjunction with a shooting algorithm to ensure accurate and stable solutions. The computational results demonstrate that the presence of the magnetic field has a pronounced impact on both velocity and temperature distributions within the boundary layer. Specifically, increasing the magnetic parameter leads to a reduction in fluid velocity due to the opposing Lorentz force induced by the magnetic field. Moreover, the squeezing parameter is found to significantly affect the momentum and thermal transport characteristics of the flow. In addition, the influence of key dimensionless parameters on physical quantities such as the skin friction coefficient, heat transfer rate, and mass transfer rate is analyzed and summarized in tabular form for better interpretation. It is observed that higher values of both the magnetic and squeezing parameters contribute to a decrease in the temperature profile within the boundary layer. Overall, these findings offer meaningful insights into magnetohydrodynamic squeezed Maxwell fluid flows, with practical relevance to polymer processing systems, lubrication processes, and thermal control technologies.