CaO-PO-SiO-BaO-FeO magnetic bioactive glasses were prepared via an optimized sol-gel method. This study is focused on investigating effects of magnetic content addition on the bioactive glass properties. To this aim, we evaluate the physical, rheological, and biocompatibility properties of synthesized magnetic bioactive glass. The morphology and composition of these glasses were studied using X-ray Diffraction (XRD), Scanning Electron Microscopy (SEM), and Transmission Electron Microscopy (TEM). The particle size was also determined using Laser Particle Size Analyzer (LPSA). The thermal measurements were carried out using Differential Thermal Analysis (DTA). For assessing the in-vitro bioactive character of synthesized glasses, the ability for apatite formation on their surface upon immersion in simulated body fluid (SBF) was checked using SEM, EDX and pH measurements. Furthermore, the Ca, Si, Ba and Fe ions in SBF were monitored using Inductively Coupled Plasma-Atomic Emission Spectrometry (ICP-AES). The results showed that the addition of Ba and Fe in the glass composition affect formation of apatite layer onto the glass surfaces. Morphologies of the apatite layers were also different in which the bioactivity decreased with increasing Fe concentration, but the increase of Ba concentration led to an increase in bioactivity. However all of the synthesized glasses are still highly bioactive. Finally, this research demonstrates that the synthesized magnetic bioactive glasses are nontoxic and biocompatible and they can be used as thermoseeds for cancer hyperthermia studies.