Recent laser technologies advanced synthesis of magnetic nanoparticles and improved applications of magnetic nanocomposites for diagnosis and therapy of cancer cells. Magnetic nanoparticles offered multifunctional applications and ensured a promising future in emerging medical fields such as nanomedicine, diagnosis and biotechnology. In this review, applications of the laser techniques for magnetic nanoparticles synthesis, imaging and cancer therapy were reviewed. Laser technologies were applied in the synthesis of complex magnetic nanostructures and introduced wide range of different morphology with different properties. Nanoparticles and clusters of magnetic nanoparticles conjugated with nanoparticles, such as gold nanoparticles, carbon nano-materials (fullerenes, graphene, graphene oxide), conjugated polymer and copper nanoparticles, offered high efficiency for photothermal cancer therapy, offered multifunctionality, wide applicability and are promising for commercial purposes. This review summarized the laser applications involved magnetic nanostructures that have emerged over the past few years, and provided a perceptual vision of the important field of nanomedicine.