-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QDDkz4jEf9gKVLcNP3XP0go3N6HBIPnZPvzzTUsxsoWs5XJjlM8ncZxu0bZ1K21J
 FgSClP8s8Ur5F4GKl4OcMA==

<SEC-DOCUMENT>0001179110-04-003288.txt : 20040213
<SEC-HEADER>0001179110-04-003288.hdr.sgml : 20040213
<ACCEPTANCE-DATETIME>20040213100313
ACCESSION NUMBER:		0001179110-04-003288
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040213

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGSTAR TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000083490
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY APPARATUS & FURNITURE [3821]
		IRS NUMBER:				410780999
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		410 11TH AVE SOUTH
		CITY:			HOPKINS
		STATE:			MN
		ZIP:			55343
		BUSINESS PHONE:		6129356921

	MAIL ADDRESS:	
		STREET 1:		410 11TH AVENUE SOUTH
		CITY:			HOPKINS
		STATE:			MN
		ZIP:			55343

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREEN ISLE ENVIRONMENTAL SERVICES INC
		DATE OF NAME CHANGE:	19940210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REUTER INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHMIESS DIANNE
		CENTRAL INDEX KEY:			0001270548

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-01561
		FILM NUMBER:		04595160

	BUSINESS ADDRESS:	
		STREET 1:		410 ELEVENTH AVE.
		CITY:			HOPKINS
		STATE:			MN
		ZIP:			55343
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000083490</issuerCik>
        <issuerName>MAGSTAR TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>MGST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001270548</rptOwnerCik>
            <rptOwnerName>SCHMIESS DIANNE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>8521 13TH AVE S</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BLOOMINGTON</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55425</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Former Controller</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>450</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>/s/ Dianne E. Schmiess</signatureName>
        <signatureDate>2004-02-12</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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