Magnetic core-shell drug-carrier microcapsules were prepared and investigated using doxorubicin (Dox) as an anticancer drug model. First, superparamagnetic iron oxide nanoparticles (Fe3O4), were prepared and coated with silica SiO2 using a sol-gel method. Next, the Fe3O4@SiO2 nanoparticles were functionalized using the (3-aminopropyl) ethoxy silane (APS), to obtain the Fe3O4@SiO2-NH2. Afterward, the (Dox) was added to form the Fe3O4@SiO2-NH2-(Dox), and then the nanoparticles were wrapped in a polymer matrix by adding a chitosan/CaCl2 aqueous solution. The presence of divalent Ca2+ cations ensured hydrogel chain reticulation and the Fe3O4@SiO2-NH2-(Dox) encapsulation into the polymer matrix. The chitosan was chosen to shrink the hydrogel microcapsules' pores and limit the drug diffusion in acidic pH. Finally, a solution of dextran and polyvinyl pyrrolidone in chloroform was added to form the outermost shell structure. This core-shell magnetic drug-carrier microcapsule was noted system (A). The second drug-carrier microcapsule noted (B), was obtained by adding the (Dox) to the outermost polymer shell. The two-hybrid core-shell, drug carriers A, and B were observed by scanning electron microscopy (SEM) and characterized by ATR-FTIR spectroscopy, and their magnetic characteristics were confirmed. The drug diffusion kinetic study revealed that (A) had a greater drug release efficiency than (B), with an enhanced drug release effect at pH 5.8 and 7.4 associated with cancer cell environments, rather than pH 4.9 associated with healthy cell environments. Therefore, the magnetic drug carrier (A) was selected as a promising candidate for cancer cell targeting therapy.