Dual ion-doped bioactive glass has drawn high attention during recent years because of well-improved therapeutic characteristics and mechanical properties. In this study, 5 different ion-doped (1 wt% Lanthanum with 0, 1, 2.5, 5, and 10 wt% Magnesium) 58S bioactive glasses (BGs) were synthesized. The physicochemical results revealed that Lanthanum (La) and Magnesium (Mg) ion doping has been successfully done. Mechanical characterization results depicted that La-doped and Mg-La double doped samples with Mg less than 2.5 wt% had higher diametral tensile strength compared to BG and other co-doped samples. However, Vickers hardness values were not affected by ion dopings. Apatite formation and bioactivity were also improved in double ion-doped samples, especially in those with the higher magnesium content. Cell culture studies showed that synthesized BGs were not cytotoxic. Especially, groups having 2.5 to 5 wt% Mg showed the highest cell viabilities at day 7. Results indicated that Mg- La dual doped bioactive glasses possess improved properties compared to BG, and thus, have potential for bone regeneration applications.