In this study, the hydrothermal synthesized Fe 3 O 4 nanoparticles are encapsulated with SiO 2 via the Stöber method and further functionalized by the deposition of YVO 4 :Eu 3+ phosphors, realizing a hybrid material with magnetic and luminescent properties. The bifunctional nanocomposites displayed a strong red emission and good ferrimagnetic behavior at room temperature. The high magnetization values make the nanocomposites quickly respond to the external magnetic field. The results also indicate that the nanocomposites may have potential applications for optical imaging or drug delivery. Moreover, we discussed the effects of the magnetic field on the luminescence intensity.