The interest in magnetic nanoparticles is constantly growing, which is due to their unique properties, of which the most useful is the possibility of directing their movement via an external magnetic field. Thus, applications may be found for them as carriers in targeted drug delivery. These nanomaterials usually form a core in a core–shell structure, and a shell may be formed via various compounds. Here, nanosilver-shelled iron oxide magnetic nanoparticles were developed. Various reaction media and various Arabic gum (stabilizer) solution concentrations were investigated to verify those that were most beneficial one in limiting their agglomeration as much as possible. The essential oil of lavender was proposed as a component of such a medium; it was used alone or in combination with distilled water as a solvent of the stabilizer. The particle size was characterized by dynamic light scattering (DLS), the chemical structure was characterized via FT-IR spectroscopy, the crystallinity was characterized by X-ray diffraction (XRD), and the surface morphology and elemental composition were verified via the SEM-EDS technique. Moreover, UV-Vis spectrophotometry was used to verify the presence of the shell made of nanosilver. Importantly, the particles’ pro-inflammatory activity and cytotoxicity towards L929 murine fibroblasts were also characterized. It was demonstrated that a 3% stabilizer solution provided a preparation of Fe3O4@Ag particles, but its stabilizing effect was not sufficient, as a suspension with micrometric particles was obtained; thus it was necessary to apply 4 h of sonication for their crushing. Next, the oil/water reaction medium was verified as beneficial in terms of nanoparticle formation. In such reaction conditions, the formation of particle agglomerates was strongly limited, and after 15 min of sonication a suspension containing only nanoparticles was obtained. The presence of a nanosilver shell was confirmed spectrophotometrically via XRD and SEM-EDS techniques. Importantly, the developed nanomaterials showed no cytotoxicity towards murine fibroblasts and no pro-inflammatory activity.