a b s t r a c tWe report a study of the structural and magnetic properties, as well as of the heat release, of an iron/ wüstite composite, prepared from iron powder and water by high energy mechanical milling. We identify that the produced sample consists of α-Fe nanoparticles embedded in a wüstite matrix and has high stability in time. Moreover, we observe that it presents noticeable features, as exchange bias effect at low temperatures and, when an alternating magnetic field is applied, its temperature reaches ∼46°C in ∼600 s. Thus, the results and the possibility of tuning the magnetic properties of α-Fe nanoparticles embedded in a wüstite matrix, through interface interactions, place this system as a very attractive candidate for biomedical applications such as magnetic hyperthermia agent for cancer therapy.