A successful effort to Synthesize Magnetic Nanoparticles was achieved through co-precipitation & chemical synthesis route. The synthesized Magnetic nanoparticle shows very good applications in cancer treatment at various stages of oncogenicity as reported worldwide. A successful attempt was made to synthesize these nanoparticles for the above application.Since Fe2O3 is a potent ferromagnetic candidate, its use and applicability is very important and necessary in such kinds of treatments. Hence Fe2O3 was prepared using co-precipitation method, silica by sol-gel process and silica impregnated iron nanoparticles by chemical synthesis. Synthesized magnetic nanoparticles where characterized by XRD,FTIR, EDAX, SEM and TEM. These nanoparticles are used for hyperthermia cancer treatment at various levels of oncogenicity.