Magnetic nanoparticles due to their unique magnetic phenomenon, are gaining immense interest due to the utilization of these properties for a wide variety of applications in various arena especially in biomedical field. This book chapter, therefore, summarizes the synthesis of various types of magnetic nanoparticles using different approaches depending of their ability to generate either single core of multcore magnetic nanoparticles. The various biomedical applications of magnetic nanoparticles like Magnetic Resonance Imaging (MRI), drug delivery etc. along with possible limitations and challenges for their extended applications in medicine are also discussed.
