A cable management system including a cable management panel comprising sheet metal having a plurality of parallel concave grooves and a pair of mounting flanges configured for mounting the panel to a rack. A plurality of magnetic cable rings are each magnetically attached to a corresponding one of the plurality of parallel concave grooves. Each cable ring includes a pair of ring halves magnetically attached to each other. At least one of the pair of ring halves comprises a magnetized material whereby one or more cables can be positioned between the pair of ring halves and secured to the cable management panel.