An analytical solution is presented for the steady axisymmetric slow viscous flow of an electrically conducting fluid over a slightly deformed sphere under the influence of a transverse magnetic field using the Stokes approximation. The governing equations are changed into dimensionless form and resulting partial differential equations are solved using the method of separation of a variable. The stream function for the flow around the approximate sphere is calculated. As an application, we considered the electrically conducting fluid flow past an oblate spheroid and evaluated the drag force in the presence of a magnetic field. Some special cases are deduced from the present study and compared with some previous research. Plots of the non-dimensional drag with different fluid parameters are presented graphically. Also, the impact of the magnetic field on the patterns of streamlines has been discussed for different Hartmann number and deformation parameter. The outcome clarifies that the magnetic field enhances the drag on the oblate spheroid.