The exceptional magnetic properties of superparamagnetic iron oxide nanoparticles (SPIONs) make them promising materials for biomedical applications like hyperthermia, drug targeting and imaging. Easy preparation of SPIONs with the controllable, well-defined properties is a key factor of their practical application. In this work, we report a simple synthesis of Ho-doped SPIONs by the co-precipitation route, with controlled size, shape and magnetic properties. To investigate the influence of the ions ratio on the nanoparticles’ properties, multiple techniques were used. Powder X-ray diffraction (PXRD) confirmed the crystallographic structure, indicating formation of an Fe3O4 core doped with holmium. In addition, transmission electron microscopy (TEM) confirmed the correlation of the crystallites’ shape and size with the experimental conditions, pointing to critical holmium content around 5% for the preparation of uniformly shaped grains, while larger holmium content leads to uniaxial growth with a prism shape. Studies of the magnetic behaviour of nanoparticles show that magnetization varies with changes in the initial Ho3+ ions percentage during precipitation, while below 5% of Ho in doped Fe3O4 is relatively stable and sufficient for biomedicine applications. The characterization of prepared nanoparticles suggests that co-precipitation is a simple and efficient technique for the synthesis of superparamagnetic, Ho-doped SPIONs for hyperthermia application.