We propose a novel magnetic field sensitive semiconductor device, viz., Horizontally-Split-Drain Magnetic-Field Sensitive Field-Effect Transistor (HSDMAGFET) which can be used to measure or detect steady or variable magnetic fields. Operating principle of the transistor is based on one of the galvanomagnetic phenomena and a Gradual Channel Detachment Effect (GCDE) and is very similar to that of Popovic and Baltes's SDMAGFET. The predicted absolute sensitivity of the new sensor can reach as high value as 1000 V/T. Furthermore, due to its original structure, the spatial resolution of the new MAGFET is very high which makes this device especially useful in reading magnetically encoded data or magnetic pattern recognition.