Magnetic bioglass ceramics (MBC) are being considered for use as thermoseeds in hyperthermia treatment of cancer. While the bioactivity in MBCs is attributed to the formation of the bone minerals such as crystalline apatite, wollastonite, etc. in a physiological environment, the magnetic property arises from the magnetite [Fe3O4] present in these implant materials. A new set of bioglasses with compositions 41CaO x (52-x)SiO2 x 4P2O5 x xFe2O3 x 3Na2O (2 < or = x < or = 10 mol% Fe2O3) have been prepared by melt quenching method. The as-quenched glasses were then heat treated at 1050 degrees C for 3 h to obtain the glass-ceramics. The structure and microstructure of the samples were characterized using X-ray diffraction and microscopy techniques. X-ray diffraction data revealed the presence of magnetite in the heat treated samples with x > or = 2 mol% Fe2O3. Room temperature magnetic property of the heat treated samples was investigated using a Vibrating Sample Magnetometer. Field scans up to 20 kOe revealed that the glass ceramic samples had a high saturation magnetization and low coercivity. Room temperature hysteresis cycles were also recorded at 500 Oe to ascertain the magnetic properties at clinically amenable field strengths. The area under the magnetic hysteresis loop is a measure of the heat generated by the MBC. The coercivity of the samples is another important factor for hyperthermia applications. The area under the loop increases with an increase in Fe2O3 molar concentration and the. coercivity decreases with an increase in Fe2O3 molar concentration The evolution of magnetic properties in these MBCs as a function of Fe2O3 molar concentration is discussed and correlated with the amount of magnetite present in them.