The objective of this study is to determine the irreversible losses and associated entropy generation within a fluid system, considering the combined effects of magnetic field, convective boundaries, and porous media. It accomplishes this objective by a thorough investigation into the second law analysis and entropy generation of a magnetohydrodynamic (MHD) Eyring–Powell fluid flowing through a symmetric porous medium. To achieve this, the governing equations for the Eyring–Powell fluid are formulated using the conservation laws of mass, momentum, and energy, while incorporating the magnetic field’s effects. In order to account for the porous character of the medium, the equations are coupled with the Darcy model. Using appropriate computational techniques, the resulting system of partial differential equations is numerically solved. The local irreversibility ratio calculates the system’s entropy generation number, revealing its distribution. The Hartmann number and Eyring–Powell fluid parameters are also studied. The primary findings indicate that A∗A∗ enhances velocity and diminishes temperature and entropy, while B∗B∗ has the opposite effect. Entropy is also increased by Hartmann and Brinkman numbers, which are a result of the enhanced heat transfer and stronger magnetic fields. The findings emphasize the need and importance of studying irreversible losses and improving fluid system energy efficiency.