Systems and methods for magnetic induction of a penile prosthesis are disclosed. The magnetic induction system includes a wand that has a coil arrangement covered with a thermal and electrical insulator sheath operable to generate an alternating magnetic field. The coil arrangement of the sheath is configured to receive the length of the penile prosthesis therein. The penile prosthesis may be made from a shape memory material such that application of alternating magnetic fields generated by the magnetic induction system induces eddy currents that raise the temperature of the penile prosthesis to a temperature above the austenitic transformation temperature that allows the penile prosthesis to achieve an erect state.