To provide a copper-coated magnesium wire which meets the demand for a lightweight coil wire material, and a method for manufacturing the same. The above-described problem is solved by a copper-coated magnesium wire (10) comprising a core material (1) made of magnesium, and a copper coating layer (2) made of copper or a copper alloy provided on a surface of the core material (1). In the copper-coated magnesium wire (10), a wire drawing mark is present on a surface of the copper coating layer (2), and the diameter is preferably within a range of 0.03 to 0.08 mm, inclusive. Further, a thickness of the copper coating layer (2) is preferably within a range of 5 to 30%, inclusive, as a ratio of the overall cross-sectional area. An insulating coating layer (3) may be provided on an outer circumferential side of the copper coating layer (2).