Step 1: Understanding the concept of magical realism.
Magical realism is a literary genre in which magical elements are included in a realistic setting. While One Hundred Years of Solitude is the most famous work of magical realism by Gabriel Garcia Marquez, Love in the Time of Cholera is often regarded as one of his major novels, although it does not fall strictly under magical realism but rather as a work blending romance with symbolic elements of the genre.
Step 2: Evaluating the options.
(A) One Hundred Years of Solitude is widely regarded as a classic of magical realism, blending the fantastical with the real.
(B) Love in the Time of Cholera is not strictly magical realism, but it does contain themes of the magical, the fantastical, and the surreal, hence it is considered part of Marquez's major works.
(C) Chronicle of a Death Foretold contains magical realist elements but is more focused on tragedy and reality.
(D) The General in His Labyrinth is a historical novel rather than a work of magical realism.
Final Answer: Option \( \boxed{{(B) Love in the Time of Cholera}} \) is correct.