Large earthquakes alter the crustal stress field across great distances (hundreds to thousands of kilometers) over geologically short timescales (seconds to years). These stress changes can affect magmatic systems, triggering (or suppressing) volcanic unrest and eruption, along with other deeper processes. We use simple kinematic source models in an isotropic elastic half‐space to assess earthquake‐induced static stress changes (>1 kPa) over the entire thickness of the lithosphere and consider the implications for magma ascent and storage. Modeling subduction zone earthquakes, we calculate static normal stress changes with depth on three mutually perpendicular end‐member magma pathways: vertical arc‐parallel, vertical arc‐perpendicular, and horizontal. From this, we define seven stress change regimes within the adjacent volcanic arc. Three of these regimes may strongly encourage magma ascent in dykes by inducing unclamping (decreased compressive normal stress) of vertical pathways which increases in magnitude toward the surface and clamping of horizontal pathways. Two of the regimes may encourage stalling and storage of magma in sills near the base of the crust by inducing unclamping of horizontal pathways at depth. The spatial distribution of the regimes is largely dependent on earthquake magnitude, but also varies with slip distribution and interface dip. We show how the responses of magmatic systems to earthquakes also depends on the stress change magnitude and the state of the magmatic system, with a greater impact expected for larger stress changes acting on weaker, more thermally mature systems.