A study addressed to develop new recyclable and/or biodegradable magnetic polymeric materials is reported. The selected matrices were polypropylene (PP) and poly (lactic acid) (PLA). As known, PP corresponds to a non-polar homo-chain polymer and a commodity, while PLA is a biodegradable polar hetero-chain polymer. To obtain the magnetic nanocomposites, magnetite supported on thermally reduced graphene oxide (TrGO:Fe3O4 nanomaterial) to these polymer matrices was added. The TrGO:Fe3O4 nanomaterials were obtained by a co-precipitation method using two types of TrGO obtained by the reduction at 600 °C and 1000 °C of graphite oxide. Two ratios of 2.5:1 and 9.6:1 of the magnetite precursor (FeCl3) and TrGO were used to produce these nanomaterials. Consequently, four types of nanomaterials were obtained and characterized. Nanocomposites were obtained using these nanomaterials as filler by melt mixer method in polypropylene (PP) or polylactic acid (PLA) matrix, the filler contents were 3, 5, and 7 wt.%. Results showed that TrGO600-based nanomaterials presented higher coercivity (Hc = 8.5 Oe) at 9.6:1 ratio than TrGO1000-based nanomaterials (Hc = 4.2 Oe). PLA and PP nanocomposites containing 7 wt.% of filler presented coercivity of 3.7 and 5.3 Oe, respectively. Theoretical models were used to analyze some relevant experimental results of the nanocomposites such as mechanical and magnetic properties.