The constant growth in population worldwide over the past decades continues to put forward the need to provide access to safe, clean water to meet human needs. There is a need for cost-effective technologies for water and wastewater treatment that can meet the global demands and the rigorous water quality standards and at the same maximizing pollutant efficiency removal. Current remediation technologies have failed in keeping up with these factors without becoming cost-prohibitive. Most recently, nanotechnology has been sought as the best alternative to increase access to water supplies by remediating those already contaminated and offering ways to access unconventional sources. The use of iron oxide magnetic nanoparticles as nanoadsorbents has led way to a new class of magnetic separation strategies for water treatment. This review focuses on highlighting some of the most recent advances in core-shell iron oxide magnetic nanoparticles and nanocomposites containing iron oxide nanoparticles currently being developed for water and wastewater treatment of organic pollutants. We discuss the novelty of these novel materials and the insight gained from their advances that can help develop cost-effective reusable technologies for scale-up and commercial use.