A magnetic holding device is adapted for holding a mask during processing of a substrate. The magnetic holding device includes a substrate carrier which is adapted for receiving the substrate to be processed. The substrate carrier includes a permanent magnet adapted for generating a first magnetic field for holding the mask. Furthermore, the substrate carrier includes a solenoid which is adapted for generating a second magnetic field adapted for at least partially compensating the first magnetic field. In case the first magnetic field is compensated, at least partially, by means of the second magnetic field, the mask is released from the substrate carrier.