A method to prepare composite colloidal nanoparticles, consisting of a magnetic core (carbonyl iron) and a biodegradable polymeric shell (cellulose acetate hydrogen phthalate) was described and also particle size was characterized by Optical Microscope and Scanning Electron Microscopy. Dielectric properties of Cellulose Acetate Hydrogen Phthalate (CAP) and carbonyl iron/CAP (core/shell) tablets were studied in the frequency range of 70 Hz-400 kHz at 300 K using LCR meter and compared the dielectric parameters of core/shell and ordinary phase of CAP tablets. From the dielectric results, the importance of core/shell nanoparticles in controlled drug delivery was discussed. © 2008 Elsevier B.V. All rights reserved.