New magnetic hybrid composites were prepared, in situ, during the functionalization of poly [maleic anhydride-co-3,9-divinyl-2,4,8,10-tetraoxaspiro(5.5)undecane] copolymer, by opening the anhydride ring with erythritol and by introducing magnetic nanoparticles into the polymeric matrix. The procedure allows for magnetic nanocomposite preparation. More than that, the new polymeric matrices owing to their suitable and specific functionalities are anticipated to be used for further link of biological molecules via the maleic anhydride moiety and the polyol presence. The hybrid composites are analyzed by infrared absorption spectrometry, dynamic light scattering (DLS), TG-DTG analysis, X-ray diffraction, SEM, TEM, and vibrating sample magnetometry. Examination of the magnetic composites by DLS analysis shows that the material consists mostly of particles with mean sizes between 295 and 342 nm, depending on the magnetite type in synthesis. The obtained results indicate the magnetite encapsulation and the interactions established with the polymeric matrix that lead to carbonyl band shifting in FTIR spectra, composite particle size decreasing, and influence on XRD and magnetic behavior data. The report of magnetization demonstrates that the prepared nanocomposites are superparamagnetic.