The magic satchel is a term used often used in reference to computer role-playing games. It refers to the characters' ability to collect more items than a human could normally carry and store them all, seemingly within thin air. It was jokingly suggested that these characters were carrying around some kind of invisible mystical bag where they could keep everything without fear of encumbrance and could pull out any item at will. Others attribute this ability to Hammerspace.

Typically, a magic satchel can cary any number of different items(Even vehicles in some extreme cases), but only up to 99 of a single kind of item. For example, a satchel may have 99 Healing Potions and 99 Antidotes, but may not carry 198 Potions, or even 100 Potions.

In the Dungeons & Dragons tabletop role-playing game, a magic satchel actually exists as a physical object, and is called a bag of holding. If the rules for encumbrance are used, such objects are actually necessary to get around the restrictions about what one can and can't carry.

In the popular, long-running ITV children's game show Knightmare, the role player wore an iconic satchel in the computer-style dungeon. However, in this case the bag could only accept food to increase the player's Life Force.

However, the concept of a magic satchel was first alluded to (although perhaps not conforming to this exact context) many years before its computer-related use, for instance in the Disney film Mary Poppins, where the title character has a bag from which she can seemingly produce a large amount of objects, or indeed ones that significantly outsize its dimensions: for example, in one scene, Mary Poppins can be seen pulling a large lamp, complete with a shoulder-length stand, from inside her bag.