Magnus Læssøe Stephensen (born October 12, 1903 in Holte, died March 14, 1984 in Helsingør) was a Danish architect and designer, trained at the Royal Danish Academy of Fine Arts 1924-30; he was the brother of Hakon Stephensen.

Magnus Læssøe Stephensen's buildings are characterized by an assured functionalism that is not just an external stylistic feature, for example his terraced houses for families with children in Husum (1941-42) and the apartment blocks in Bispeparken (1940-41) and Dommerparken (1945-47); like many other buildings in Copenhagen and the surrounding area, they were designed in collaboration with Knud Thorball (1904-1980).

A study trip to Japan, among other places, left its mark on his design, which includes silverware for Kay Bojesen, cutlery for Georg Jensen, tableware for the Royal Porcelain Factory and furniture for Fritz Hansen's Eftf. including the DAN chair from 1931. He received the Eckersberg Medal in 1948.