Magnetic carbon nanocomposites (MCNCs), with different constitution and fractions of magnetic component, were fabricated by the pyrolysis of the polymeric precursor. X-ray diffraction, transmission electron microscopy and Raman spectroscopy revealed the presence of nanocrystallites (NCs) of Co, Fe 3 C and Ni embedded in porous, partially graphitized carbon matrix. Vibrating sample magnetometer measurements enabled to determine the correlation between NCs size distribution and magnetic properties. The magnetic studies confirmed that the coercivity, saturation and remanent magnetizations, as well as fraction of the magnetic component depend on the pyrolysis temperature. The Co#C and Fe 3 C#C composites exhibited ferromagnetic behaviour with a remanent to saturation magnetization (M R /M S ) ratio ranging from 0.25 to 0.3, whereas in the Ni containing samples a relatively small M R /M S ratio points to significant contribution of superparamagnetic interactions. The Ni#C composites, having superparamagnetic and/or ferromagnetic nanocrystallites in their volume, were chosen to check the ability of heat generation in a magnetic field. It was found that the hysteresis losses were the main mechanism of heat generation. The MCNCs obtained can potentially be applied for hyperthermia treatment. As the MCNCs are proposed for biomedical application the basic cytotoxicity test were performed to evaluate a potential toxic effect of the materials on MG-63 cells line. The test results confirmed that the composites containing Fe 3 C are non-cytotoxic whereas the majority of the Ni#C and Co#C composites was characterized as slightly or moderately cytotoxic. Keywords: magnetic carbon nanocomposite, magnetic properties, pyrolysis, cytotoxicity, biomedicine