The magnetic field effect (MFE) on the photoinduced electron transfer (PET) reaction between the [Cu(phen)2]2+ complex and DNA has been studied in homogeneous buffer medium and in reverse micelles. The copper complex on photoexcitation can oxidize DNA in a deoxygenated environment. A prominent MFE is found even in a homogeneous aqueous medium for the triplet born radicals. The process of partial intercalation of [Cu(phen)2]2+ complex within DNA is responsible for such a rare observation. In reverse micelles, the MFE is not very much prominent because of the large separation distance between the component radicals of the geminate radical ion pairs generated through PET.