Final answer:
The most common eye malignancy in children is retinoblastoma, a cancer that forms in the retina and mostly affects children under the age of five.
Step-by-step explanation:
The most common eye malignancy in children is retinoblastoma. This rare type of cancer forms in the retina, the light-sensitive lining inside the eye, and is most common in children under the age of five. While the aforementioned details about age-related macular degeneration (AMD) and skin cancer like basal cell carcinoma provide context on eye health and malignancies in general, they do not pertain to the most common pediatric eye cancer. Retinoblastoma can affect the vision of children, and without proper treatment, it can be life-threatening, but with early diagnosis and appropriate treatment, the prognosis can be very favorable.