This review presents the actual state of knowledge and recent research results on the magnetic composite synthesized from iron oxide (γ-FeO or FeO) and hydroxyapatite. It can be obtained applying some methods, i.e. chemical precipitation, hydrothermal, sol-gel, and biomimetic or combined techniques which exhibit characteristic properties affecting the form of the prepared product. More specific details are discussed in this paper. A comparison of the discussed synthesis methods is presented. On the basis of selected publications, a comparison of the results of the analysis by XRD, FTIR, SEM and EDX methods for hydroxyapatite with a magnetic core was also presented. Moreover, the characteristics large adsorption capacity and specific area allow employing nanocomposites as adsorbents particularly in removal of toxic metal ions. Nowadays this issue is extremely vital due to large amounts of pollutants in the environment and greater ecological awareness of people. Moreover, magnetic hydroxyapatite can be also applied as a catalyst in various syntheses or oxidation reactions as well as in medicine in magnetic resonance imaging, hyperthermia treatment, drug delivery and release, bone regeneration or cell therapy.