Two kinds of methods of explaining the physical mechanism of the Magnus effect are compared with each other and fully discussed. The first method uses Bernoulli's theorem and the fluid velocity difference between both sides of the body. The second one is based on the momentum theorem which relates the lift force with the fluid acceleration perpendicular to the uniform flow direction, which is caused by the asymmetry of separation points. It is shown that the latter method is preferable because it can be strictly applied to the real flow field containing both the rotational and the irrotational flow regions.