To fight against cancer, smarter drugs and drug delivery systems are required both to boost the efficiency of current treatments while reducing deleterious side effects, and combine diagnosis/monitoring with therapy (theranosis) in the search for the final goal of personalized medicine. This work presents the design, preparation, and proof‐of‐principle validation of a novel hybrid organic–inorganic nanocomposite joining together non‐invasive imaging capabilities through magnetic resonance imaging and externally actuated therapeutic properties through a combination of chemo‐ and thermotherapy. The lipidic matrix of the nanocomposite was composed of carnauba wax, which was simultaneously dual loaded with magnetite nanoparticles and the anticancer drug Oncocalyxone A. Obtained formulations were fully characterized and showed outstanding performances as T2‐contrast agents in magnetic resonance imaging (r2>800 mm−1 s−1), heat generating sources in magnetic hyperthermia (specific absorption rate, SAR>200 W g−1Fe), and magnetically responsive drug delivery vehicles. The potential of the designed formulations as theranostic agents was validated in vitro and results indicated a synergistic thermo/chemotherapeutic effect derived from heat generation and controlled drug delivery to cancer growth. Thereby, this external control over the drug delivery profile and the integrated imaging capability open the door to personalized cancer medicine and real‐time monitoring of tumor progression.