The invention relates to a magazine for receiving and accommodating one or more projectiles in a toy gun. The magazine comprises a housing defining a chamber adapted to accommodate the one or more projectiles in a longitudinal, inline arrangement; a first positioning member arranged at the chamber and being movable relative to the housing; wherein the first positioning member comprises one or more first engaging means adapted to engage the one or more projectiles, such that the one or more projectiles are permitted to move longitudinally along the chamber in one direction only in response to a projectile advancing or loading movement of the first positioning member. The invention also relates to a toy gun having the magazine as described.