Deformable mirrors (DMs) have wide applications ranging from astronomical imaging to laser communications and vision science. However, they often require bulky multi-channel cables for delivering high power to their drive actuators. A low-powered DM, which is driven in a contactless fashion, could provide a possible alternative to this problem. We present a photomagnetically actuated deformable mirror (PMADM) concept, which is actuated in a contactless fashion by a permanent magnet and low-power laser heating source. We present the laboratory demonstration of prototype optical surface quality, magnetic control of focus, and COMSOL simulations of its precise photocontrol. The PMADM prototype is made of a magnetic composite (polydimethylsiloxane + ferromagnetic CrO₂) and an optical-quality substrate layer and is 30.48  mm  ×  30.48  mm  ×  175  μm in dimension with an optical pupil diameter of 8 mm. It deforms to 5.76  μm when subjected to a 0.12-T magnetic flux density and relaxes to 3.76  μm when illuminated by a 50-mW laser. A maximum stroke of 8.78  μm before failure is also estimated considering a 3  ×   safety factor. Our work also includes simulation of astigmatism generation with the PMADM, a first step in demonstrating control of higher order modes. A fully developed PMADM may have potential application for wavefront corrections in vacuum and space environments.