The aim of this work was the synthesis of bioactive magnetic particles (BMP) which are expected to form a thin apatite layer on its surface that may bond to bone with the osseous carcinogen tissue. Magnetite and Mg0.6Ca0.4Fe2O4 nanoparticles were obtained by a reverse co-precipitation and sol-gel methods, respectively. Magnetite particles were coated with chitosan in order to obtain a stable ferrofluid. Then both ferrites were biomimetically treated using two different simulated body fluids (SBF and 1.5 SBF). An apatite layer was formed on both types of BMP after the biomimetic treatment. Both ferrites showed superparamagnetic behavior before and after the apatite formation. Their time-dependent temperature profiles were measured under the effect of an AC magnetic field (AMF). After less than 20 min of applying the AMF an appropriate temperature for hyperthermia treatment was obtained. No citotoxicity was observed after osteosarcoma cell culture testing of BMP. Furthermore, after applying an AMF to the cells in contact with the BMP, the cells viability decreased considerably.