A magnetic hanging frame for hand tools has a track disc, at least one holding element and at least two magnetic devices. The track disc has a baseboard, a track formed on and protruding from a front surface of the baseboard and a mounting rack formed on and protruding from a rear surface of the baseboard. The at least one holding element is slidably mounted on the track. The at least two magnetic devices are connected to the track disc, and each one of the at least two magnetic devices has a magnet mount and two locating mounts. The magnet mount is mounted in the mounting rack and has a magnetic body and two extending wings. The locating mounts are mounted in the mounting rack beside the magnet mount, abut against the magnet mount and each one of the locating mounts has a locating groove and a middle protrusion.