An effective induction heating material composed of wood and magnetic Fe3O4 particles is prepared via a simple hydrothermal method. Fe3O4 particles deposit on the porous wood substrate provides excellent magnetic properties and high magnetothermal conversion resulting in rapid increase in the temperature at the wood substrate. Benefiting from the effective magnetocaloric effect of magnetic particles, the temperature of magnetic wood exhibits a noticeable rise (from 25.9 to 70.1 °C in 10 min) at low‐frequency magnetic field. For simulating the real environment, the indoor temperature rise of magnetic wooden model also reveals the excellent heating performance of magnetic wood. Besides, the magnetic wood also serves as a thermal insulator to slow down the transport of thermal energy from the high temperature area to its surroundings due to its low thermal conductivity, which benefit the rational use of thermal energy in daily life. In view of highly scalable, simple operation, good durability, excellent magnetic properties, effective magnetocaloric effect, and thermal insulation, the novel magnetic wood composite demonstrated here is an attractive induction heating material for application in building, decoration, and massage furniture.