Levy was niece to the Danish master painter Kristian Zartmann . She was educated at the Royal Art Academy in 1902 where she was a pupil of Viggo Johansen. Levy also attended the art school of N.V. Dorph from 1904-1905. Later, in about 1906, Levy travelled to Paris and Italy where she Studied at the French Academy in Rome. Levy primarily painted portraits and was a very popular and requested artist. She is known for her strong and bright colours and was known for her abilities to capture the feelings and sentiments of her models completely. Many of Levys artworks are known to have symbolic qualities. Magrete Levy was married to the French author Lois Levy. They often worked together and Magrete Levy has illustrated many of his books. Magrete Levy has traveled many times in Italy: 1902- 1937. Saint Petersburg: 1905. Paris: 1905 – 1928. Iceland: 1936.
Modern Danish Artists, Brighton, England: 1912
Exposition présentée par le Club international Féminin, Paris: 1958
The Artists Fall Exhibition: 1908- 1920.
The Art Union: 1983