“…Therefore, these composite materials have been demonstrated great potential in wide range of multimodal biomedical applications, for example, drug delivery carriers, photothermal destruction of tumor cells,, multimodal MRI contrast agents, quantitative DNA analyses and magnetic hyperthermia for cancer therapies ,. The luminescent and magnetic nanomaterials can be obtained by coating or layer‐by‐layer deposition of rare earth phosphors,,, quantum dots on magnetic core nanoparticles, polymers assisted encapsulation or co‐assembling of magnetic nanoparticles and luminophores in single nanostructures, as well as functionalization of Fe 3 O 4 with dyes or luminescence rare earth complexes ,…”