In this paper, the luminescent complex Eu(3-thenoyltrifluoroacetonate)₃ was integrated with Fe₃O₄ and gold (Au) nanoparticles to form a multifunctional nanocomposite, Fe₃O₄/Au/Eu(TTA)₃ (FOASET NC), for dual magnetic-photothermal therapy and biomedical imaging. Upon functionalization with amine-NH₂, the FOASET NC exhibits a small size of 60–70 nm and strong, sharp emission at λ_max = 614 nm, enhanced by surface plasmon resonance (SPR) of Au nanoparticles that provided an effective label for HT29 colorectal cancer cells by fluorescence microscopy imaging. In addition, a hyperthermia temperature (42–46 °C) was completely achieved by using these FOASET NCs in an aqueous solution with three heating modes for (i) Magnetic therapy (MT), (ii) Photothermal therapy (PT), and (iii) Dual magnetic-photothermal therapy (MPT). The heating efficiency was improved in the dual magnetic-photothermal heating mode.