A magnetic resin based on cardanol, furfural, and curaua fibers was prepared and characterized. The material could be used in oil‐spill cleanup processes, because of its aromatic/aliphatic balance. The resin was prepared through bulk polycondensation of cardanol and furfural in the presence of curaua fibers and maghemite nanoparticles. Hydrophobicity of the curaua fibers was improved by acetylation, increasing the oil‐absorbing capability of the composites. The obtained magnetic composites were studied by Fourier‐transform infrared spectroscopy, X‐ray diffraction, and thermogravimetric analysis. Degree of cure, magnetic force, and oil‐removal capability tests were also performed. The results show that the composites possess an elevated cure degree in addition to a considerable magnetic force. The materials exhibit a good oil removal capability in the presence of a magnetic field, which is improved by the use of acetylated curaua. In the best case, the composite filled with maghemite and curaua can remove 12 parts of oil from water. © 2014 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2015, 132, 41732.