- Margaret Painex - the daughter of the Iron Emperor who was taken in and raised by Charlotte Painex. She isn't very social and doesn't speak very often but wants to grow up to be just like her mother.
- Tux - Charlotte's pet and companion who she often sends to accompany Margaret.
- Charlotte Painex - Margaret's mother who is a famous warrior that has defeated many enemies and saved the land many times. She is currently dating William after she and Maria broke up due to a big fight between them.
- William Doxx - Charlotte's current boyfriend who was formerly known as the Masked Crusader but now works at the magic school he once attended as a magical defense teacher.
- Maria Jaxon - Charlotte's best friend who used to date her but now teaches as a gym coach while currently dating her former rival Willow. She is currently the second most popular teacher at the school.
- Lily Jade - the former assistant of the Iron Emperor who works as a transformation teacher. She sees some of herself in Margaret and enjoys talking to her.
- Thaddeus - the new head of the magic school who took over after the death of Tattoous and who is attempting to rework himself to become the best head teacher for the academy.
- Willow Wolfe - a vain werewolf girl who antagonized Charlotte and Maria during her youth, now being a mystic creatures teacher and dating Maria.
- Wendy Igo - a wendigo and an old friend of Charlotte during her youth now serving as a potions teacher.
- Daisuke Harada - a Japanese man who is very athletic and sporty but who is, ironically, the history teacher of the school.
- Andrew Vampe - a former student at the magic academy who is now a world-famous rock star that travels the land playing at concerts.
- Carrie Painex - Charlotte's cousin who now has come out of their shell and works as an adventurer traveling the land and battling monsters.
- Kim Baxter - the new mayor of Stonecreek City who is determined to keep the town safe.
- Ryous - a now elderly elf who loves pranking people though he has seemingly lost his game but still acts as if he is funny. No one is sure how he became elderly so fast.
- Katie Spades - a friend of Margaret's who is extremely extroverted and a big fan of Charlotte's. She gets along great with Margaret and understands her without her saying anything.
- Michael Baxter - the son of Kim Baxter who is a very popular student that many girls have crushes on. He is very intelligent and is very fond of unsolved mysteries and crime stories.
- Wilber Igo - Wendy's son who isn't very bright, often forgetting the most simple of things. He has a fondness for anything cute but is prone to bursts of rage when something he likes is hurt.
- Jackie Vampe - Andrew Vampe's daughter who is extremely shy, passive, and submissive, often stuttering when she speaks and never really speaking up for herself.
- Sheriff Robert Spades - the new sheriff of the town and Katie's father who puts on a stern and intimidating face to criminals and the public but is a very jokey and giddy person in reality.
- Ozymandias - the main antagonist of the series who is the last remaining old god. Specifically, he is the god of death and rebirth, wiping out life on a planet and replacing it.
- The Jester Council, a team of demonic jesters working under Ozymandias, consisting of:
- Black Tom - the leader of the council who is a half silly, half threatening wizard that is able to draw on the magical power around him to increase his own magic.
- Pink Jan - the youngest member of the group who is often seen with Blue Will. She is very insecure about her age and often tries to prove she's just as good as the others.
- Blue Will - an overweight and usually very quiet member of the council who really only speaks to continue one of Jan's sentences.
- Gold Ann - a member of the group who is in love with Black Tom and is very seductive.
- Minerva Evergold/Malice - a woman who claims to be Ozymandias' daughter and who is one of his top enforcers. Her origin and true identity is revealed in later issues.
- The Gentleman - a man in a plague doctor's mask and very fancy outfit who works under Ozymandias and was granted a fraction of his power, granting him incredible magical abilities.
- The Seven Soldiers of Justice, seven warriors working for Ozymandias
- Wrath - the leader of the seven who is, ironically, one of the happiest people in the world, only rarely showing any negative emotion. His ability allows him to shut down any attack made in anger.
- Pride - a member of the group who is mostly just a part of the group in order to become more famous. His ability allows him to become more powerful every time someone compliments them.
- Lust - a very short woman that is small enough to fit on someone's shoulders who enjoys making jokes at people's expense. Their ability allows them to increase someone's power by confessing their love to them.
- Greed - the calmest of the group who prefers to keep to himself and rarely speaks to others. Their ability allows them to steal any magical power they have seen.
- Envy - an, ironically, very prideful member of the group that constantly belittles everyone around them. Their ability lets them install bad luck in others.
- Gluttony - an extremely fat figure of the group. His power gives him the ability to grow more huge each time he eats.
- Sloth - a well-kept and intelligent member of the group that takes everything into consideration during a fight. Their ability allows them to stop everyone in their tracks by snapping their fingers.
- Necromus - an extremely dangerous dark wizard who is keeping himself young and is now raising his own daughter to become his successor.
- Corsette - Necromus' daughter
- El Skelé - an old foe of Charlotte's who is now bonded in magical armor and uses a powerful sword he names La Muerte.
- Luna - Skelé's wife who now uses a magical amulet allowing her to manipulate a few unsuspecting people to work for her.
- Virgil - a creature made out of mainly bones, out to steal jewels and other valuables.
- The Devil with No Eyes - a giant and hungry monster.
- Nature Vs Nurture - Charlotte has her final fight with the Iron Emperor.
- Making Friends - Margaret goes for her first day of high school.
- Old Foes - An old enemy of Charlotte's makes his way to the school.
- Margaret is unique when it comes to Good Ol' Magic protagonists, being the first one to not be gay/bi. She is actually confirmed by the creators as a demiromantic asexual.
- The series will be serialized, meaning that every issue will continue the story of the previous.
- The creators revealed the fates of characters who don't appear in the series.
- Misery was captured and is currently in the care of the Stonecreek Asylum.
- Griffinface was imprisoned inside the nearest jail.
- Tattoous died of natural causes.
- Elena was stripped of her abilities and is currently serving community service by singing for the people she used to control.
- Shada was skinned and turned into a purse.
- Ghostly Jack ascended into the next realm.
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