In this study, a new type of highly efficient and recyclable magnetic-fluorine-containing polyether composite demulsifier (Fe3O4@G-F) was synthesized by the solvothermal method to solve the demulsification problem of oil–water emulsion. Fe3O4@G-F was successfully prepared by grafting fluorinated polyether onto Fe3O4 and graphene-oxide composites. Fe3O4@G-F was characterized using scanning electron microscopy (SEM), Fourier-transform infrared spectroscopy (FTIR), transmission electron microscopy (TEM), and X-ray photoelectron spectroscopy (XPS). Taking the self-made crude-oil emulsion as the experimental object, the demulsification mechanism of the demulsifier and the influence of external factors, such as the temperature and pH value, on the demulsification performance of the demulsifier are discussed. The results show that the demulsification efficiency of the Fe3O4@G-F emulsion can reach 91.38% within 30 min at a demulsifier dosage of 750 mg/L, pH of 6, and a demulsification temperature of 60 °C. In neutral and acidic environments, the demulsification rate of the demulsifier is more than 90%. In addition, Fe3O4@G-F has been proven to have good magnetic effects. Under the action of an external magnetic field, Fe3O4@G-F can be recycled and reused in a two-phase system four times, and the demulsification efficiency is higher than 70%. This magnetic nanoparticle demulsifier has broad application prospects for various industrial and environmental processes in an energy-saving manner.