We investigate magnetic solitons in an immiscible binary Bose-Einstein condensate (BEC), where the intraspecies interactions are slightly weaker than the interspecies interactions. While their density and phase profiles are analogous to dark-bright solitons, other characteristic properties such as velocities, widths, total density depletions, and in-trap oscillations are different. In the low velocity regime, a magnetic soliton reduces to a traveling pair of magnetic domain walls. Collisional behaviors of the solitons are also briefly discussed. We further demonstrate that these solitonic states can be realized in a quasi-one-dimensional (quasi-1D) spin-1 ferromagnetic BEC with weak spin interaction, e.g., a Rb87 BEC.