Zinc oxide‐decorated superparamagnetic silica attached to graphene oxide (Fe3O4/SiO2/PTS‐GO‐ZnO), as a novel nanocomposite, was designed, and its core‐shell structure was appropriately characterized by different spectroscopy or microscopy methods and thermal techniques as well as measuring of its porosity and magnetic properties. The catalytic activity of Fe3O4/SiO2/PTS‐GO‐ZnO, as a reusable heterogeneous catalyst, was investigated for efficient one‐pot multi‐component synthesis of medicinally important functionalized 2‐amino‐6‐(2‐oxo‐2H‐chromen‐3‐yl)‐4‐arylnicotinonitrile derivatives. The significant features of the present procedure are mild reaction conditions, low loading of the catalyst, high to quantitative yields of the desired products, avoiding the use of toxic heavy metals or solvents, simple isolation and purification of the products, and stability as well as reusability of the catalyst after at least six consecutive runs.