Magnesium-based alloys are promising candidates for biodegradable implants due to their favorable mechanical properties and biocompatibility, yet their rapid corrosion in physiological environments remains a critical challenge. This study investigates the corrosion behavior of magnesium composites reinforced with bioactive glass-ceramic nanoparticles, fabricated using a melt shearing process to achieve refined microstructures and uniform particle distribution. Comparative analysis with manually mixed composites and pure Mg revealed that processing-induced microstructural refinement significantly influences corrosion stability and degradation kinetics. In vitro assays confirmed cytocompatibility, while in vivo implantation in a rat femur model demonstrated gradual and controlled implant resorption without adverse tissue response. These findings highlight the importance of processing and microstructural control in tailoring the corrosion response of magnesium-based metallic composites, offering insights for the design of next-generation metallic biomaterials with enhanced performance in corrosive environments.