Objective Drug-loaded magnetic nanocomposite iodized oil microemulsion was prepared by using the double emulsion method. The microemulsion contained anti-tumor drug doxorubicin(DOX)，magnetic nanoparticles(MNP)，and iodized oil as the matrix. The evaluation on biocompatibility and the feasibility of the nanocomposite microemulsion as the media for liver cancer comprehensive treatment was carried out in vitro. Methods MNPs modified with oleic acid，DOX and iodized oil were made of composite microemulsion by phacoemulsification. Inductive heating properties were evaluated by monitoring the temperature increase of the nanocomposite microemulsion under an alternative magnetic field (AMF). Mouse fibroblast cell L-929 and human liver hepatocellular carcinoma cell HepG-2 were employed in the study. HepG-2 cells were subjected to various treatments including AMF exposure，drug treatment，heating treatment as well as thermochemotherapy treatment medicated by the nanocomposite microemulsion. Cell viability was evaluated by CCK-8 assay. Results The nanocomposite microemulsion possessed excellent inductive heating property under AMF exposure which satisfied the temperature requirement during cancer hyperthermia. Cytotoxicity study showed that the biocompatibility of the microemulsion was good，which met the requirement to Evalution on biology of medical apparatus GB/T 16886. Conclusions The biocompatibility of the microemulsion containing DOX and MNPs is good. The bi-modal treatment with magnetic thermochemotherapy is more effective than mono-modal treatment. The synergistic effect between heating treatment and drug treatment was confirmed under AMF exposure. The nanocomposite microemulsion is a new functional media for comprehensive treatment of liver tumors.