Fly ash/magnetite material was used for the adsorption of copper ions from synthetic wastewater. The obtained material was characterized by scanning electron microscopy (SEM), energy dispersive X-ray analysis (EDAX), X-ray diffractometer (XRD), Fourier transform infrared spectroscopy (FTIR), Brunauer–Emmett–Teller (BET) surface area, and vibrating sample magnetometer (VSM). Batch adsorption experiments were employed in order to investigate the effects of adsorbent dose, initial Cu (II) concentration and contact time over adsorption efficiency. The experimental isotherms were modeled using Langmuir (four types of its linearization), Freundlich, Temkin, and Harkins–Jura isotherm models. The fits of the results are estimated according to the Langmuir isotherm, with a maximum adsorption capacity of 17.39 mg/g. The pseudo-second-order model was able to describe kinetic results. The data obtained throughout the study prove that this novel material represents a potential low-cost adsorbent for copper adsorption with improved adsorption capacity and magnetic separation capability compared with raw fly ash.