Novel core-shell superparamagnetic nanofluids composed of magnetic iron oxide (FeO, MION) and cobalt-doped (CoFeO, Co-MION) nanoparticles functionalized with carboxymethyl cellulose (CMC) ligands were designed and produced via green colloidal aqueous process. The effect of the degree of substitution (DS = 0.7 and 1.2) and molecular mass (M) of CMC and cobalt doping concentration on the physicochemical and magnetic properties of these nanoconjugates were comprehensively investigated using Fourier-transform infrared spectroscopy (FTIR), X-ray diffraction, transmission electron microscopy (TEM) with selected area electron diffraction, X-ray fluorescence, dynamic light scattering (DLS), zeta potential (ZP) analysis, vibrating sample magnetometry (VSM) and electron paramagnetic resonance spectroscopy (EPR). The results demonstrated the effect of concentration of carboxylate groups and M of CMC on the hydrodynamic dimension, zeta potential, and generated heat by magnetic hyperthermia of MION nanoconjugates. Co-doping of MION showed significant alteration of the electrostatic balance of charges of the nanoconjugates interpreted as effect of surface interactions. Moreover, the VSM and EPR results proved the superparamagnetic properties of these nanocolloids, which were affected by the presence of CMC and Co-doping of iron oxide nanoparticles. These magnetic nanohybrids behaved as nanoheaters for killing brain cancer cells in vitro with prospective future applications in oncology and nanomedicine.