Magnetic hyperthermia therapy is expected to play an important role in the treatment of more and more cancers. The synergistic effects of using together hyperthermia and cancer drugs have been shown by literature studies to be more effective than either hyperthermia treatment alone or chemotherapy alone. In addition, magnetic materials that can be used as a contrast agent enable magnetic resonance imaging of the tumor, which is also useful in seeing the treatment progress. This study, which was designed for this purpose, occurred in three parts: In the first part, magnetic CoFe2O4/alginate composite beads were prepared and characterized with thermogravimetric analysis (TGA) and scanning electron microscope (SEM). In the second part, the swelling behaviour of magnetic composite beads was investigated at pH 1.2, pH 7.4 and pH 6.8. It was seen that at pH 7.4 and pH 6.8, that is, near neutral pH, CFA swelled by 81.54% and 82.69%, respectively. In the third part, 5-Fluorouracil was encapsulated at the different ratios in CoFe2O4/alginate composite beads, and release experiments were performed at pH 1.2, pH 7.4 and pH 6.8. 5-FU release was calculated with Korsmeyer-Peppas, Higuchi, first-order, and zero-order models. It was seen that the drug release systems prepared were suitable for all kinetic models. Magnetic CoFe2O4/alginate composite bead, which is the drug carrier, was determined to be suitable for controlled release for 5-Fluorouracil.