Now, though, he may find himself on the chopping block as Haas look to move in a new direction.
Currently eighth in the standings with seven points, the other Haas driver Nico Hulkenberg has already announced that he will be leaving for Sauber/Audi in 2025.
Who will drive for Haas in 2025?
It means that neither Haas seat is nailed down for 2025, though it seems Ferrari academy driver Ollie Bearman is being thoroughly prepped to make the move.
The youngster, who stood in for Carlos Sainz in Saudi Arabia, is having a poor season with Prema in F2 but is set to make six practice appearances in a Haas this season.
F1 journalist Lawrence Barretto believes that Haas are looking to make another change, and wrote on X: "Chatting to Kevin Magnussen today, I get the distinct feeling he is preparing for a racing career outside of F1 beyond this season.
"Haas haven't nailed their line-up yet, but Ocon and Bearman are favourites to lock those seats in."
Ocon is out of contract at Alpine after 2024, and the team have confirmed they will split. Valtteri Bottas, currently at Sauber, could be another option.
An F1 exit opens the door for Magnussen to compete in other series, including those in America. He made a sole appearance for Arrow McLaren in IndyCar 2021.