Hematite is considered a promising photoanode material for photoelectrochemical water splitting, and the literature has shown that the photoanode production process has an impact on the final efficiency of hydrogen generation. Among the methods used to process hematite photoanode, we can highlight the thin films from the colloidal deposition process of magnetic nanoparticles. This technique leads to the production of high-performance hematite photoanode. However, little is known about the influence of the magnetic field and heat treatment parameters on the final properties of hematite photoanodes. Here, we will evaluate those processing parameters in the morphology and photoelectrochemical properties of nanostructured hematite anodes. The analysis of thickness demonstrated a relationship between the magnetic field and nanoparticles concentration utilized to prepare the thin films, showing that the higher magnetic fields decrease the thickness. The Jabs results corroborate to influence the magnetic field since the use of a higher magnetic field decreases the deposited material amount, consequently decreasing the absorption of the thin films. The PEC measurements showed that at higher concentrations, the use of higher magnetic fields increases the JPH values, and lower magnetic fields cause a decrease in JPH when using the higher nanoparticle concentrations.