This study demonstrates a novel nanostructured drug delivery system utilizing α-FeO/CuO/CuFeO ternary nanocomposite for effective drug transport in sick tissues. Centella Asiatica plant extract was employed to synthesize the FeO/CuO/CuFeO nanocomposite via sol-gel auto combustion technique. The structural and morphological characteristics of the nanocomposite were investigated by XRD, FT-IR, SEM, EDX, and VSM for magnetic properties. The XRD analysis demonstrates the successful synthesis of FeO/CuO/CuFeO nanocomposite with an average crystallite size of 18.393 nm. The antioxidant and antifungal capabilities of this nanocomposite were assessed for its biological activity. A notable inhibitory zone was observed when tested against the Alternaria spp. and Bipolaris sorokiniana fungi. An IC value of 109.88 μg/ml was found in the DPPH test, indicating that the nanocomposite exhibited remarkable antioxidant characteristics. Subsequently, metronidazole was encapsulated with a success rate of 55.53 % at pH 1.2, while at pH 7.4 it gained 57.83 %. The drug release of nanocomposite at pH 1.2 after 330 min was 43.41 % and at pH 7.4 after 300 min it was 52.3 %. The results indicate its potential as an excellent candidate for drug delivery. Furthermore, pH was found to be an effective catalyst in the drug loading and release processes.