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Motivated by recent experiments on Mott insulators, in both iridates and ultracold atoms, we theoretically study the effects of magnetic order on the Mott-Hubbard excitons. In particular, we focus on spin-mediated doublon-holon pairing in Hubbard materials. We use several complementary theoretical techniques: mean-field theory to describe the spin degrees of freedom, the self-consistent Born approximation to characterize individual charge excitations across the Hubbard gap, and the Bethe-Salpeter equation to identify bound states of doublons and holons. The binding energy of the Hubbard exciton is found to increase with increasing the N{é}el order parameter, while the exciton mass decreases. We observe that these trends rely significantly on the retardation of the effective interaction, and require consideration of multiple effects from changing the magnetic order. Our results are consistent with the key qualitative trends observed in recent experiments on iridates. Moreover, the findings could have direct implications on ultracold atom Mott insulators, where the Hubbard model is the exact description of the system and the microscopic degrees of freedom can be directly accessed.