In season 1, episode 10 Warriors, he's revived because the Cabal is interested in what he knows. It is not explained exactly how, but according to Wikipedia, citing the audio commentary for the episode on the DVD:
In writing "Warriors", Egan wanted to reintroduce Magnus' father Gregory Magnus from the webisodes; there were plans to introduce him in "Fata Morgana", but the idea did not make it to the final episode. Gregory was written not to have the longevity of his daughter. Egan decided not to include a full explanation of how he survived a hundred years without aging, but wanted to hint to the audience that he was in fact cryogenically frozen by the Cabal.
Presumably, then, he is aging at a normal rate and will die within a few decades.