Acombined superparamagnetic and fluorescent MnFe2O4/CdSe multifunctional nanocompositehas been prepared by suitable surface functionalizationswith citric acid, polyethyleneimine(PEI) and thioglycolic acid (ThA).and the samples were characterized by XRD, FT-IR, TEM, Zeta Potential, VSM, UV-Vis and PL spectroscopy. MnFe2O4 crystalizes with average size of 38.6nm whereas CdSe with average size of 2.03nm. In composite, the CdSe quantum dots (QD) are homogeneously distributed in the matrix of porous MnFe2O4 nanoparticles. Thenanocomposites are well dispersed in aqueous solvent and possess significant magnetic and luminescence properties which may be utilised for magnetic resonance imaging and luminescence tagging of biomolecules. © 2018 Author(s).