This paper presents the results of a study of the change in the stability of Fe2O3/NdFeO3 nanocomposites when exposed to aggressive media over a long period of time. The main purpose of these studies is to investigate the mechanisms of degradation and corrosion processes occurring in Fe2O3/NdFeO3 nanocomposites, as well as the influence of the phase composition on the properties and degradation resistance. According to the X-ray phase analysis, it was found that the variation of the initial components leads to the formation of mixed composition nanocomposites with different Fe2O3/NdFeO3 phase ratios. During corrosion tests, it was found that the dominance of the NdFeO3 phase in the composition of nanocomposites leads to a decrease in the degradation and amorphization rate of nanostructures by a factor of 1.5–2 compared to structures in which the Fe2O3 phase dominates. Such a difference in the degradation processes indicates the high stability of two-phase composites. Moreover, in the case of an aqueous medium, nanocomposites dominated by the NdFeO3 phase are practically not subjected to corrosion and deterioration of properties. The results obtained helped to determine the resistance of Fe2O3/NdFeO3 nanocomposites to degradation processes caused by exposure to aggressive media, as well as to determine the mechanisms of property changes in the process of degradation. The results of the study of the absorption capacity of Fe2O3/NdFeO3 nanocomposites in the case of the purification of aqueous media from manganese and arsenic showed that a change in the phase ratio in nanocomposites leads to an increase in the absorption efficiency of pollutants from aqueous media.