The present study focuses on fabrication of magnetic activated carbon (M-AC) using tire waste and its potential investigation for adsorption of Cr (VI) from wastewater. The composite material (M-AC) was synthesized by pyrolysis followed by in situ magnetization method, and characterized by FTIR, FESEM, EDX, and XRD analysis. The maximum adsorption of Cr (VI) ion over composite adsorbent was found (~99.5%) to occur at pH 2, sample volume 10 mL, adsorbent dose 100 mg, contact time 30 min. The adsorption process was endothermic, feasible, spontaneous, and was found to follow pseudo second order of the reaction. The Cr ion could be completely desorbed (~99.3%) from the composite adsorbent by using 20 mL of 2 M NaOH solution. The composite adsorbent was regenerated by continuous adsorption and desorption for 5 consecutive cycles by using 10 mL 0.1 M HCl solution. M-AC also performed well in case of tannery wastewater by removing about 97% of Cr (VI).