The present manuscript reports the use of hybrid magneto-plasmonic nanoparticles (HMPNPs) based on iron oxide nanoparticles and Au nanorods as colloidal nanoheaters. The individual synthesis of the magnetic and plasmonic components allowed optimizing their features for heating performance separately, before they were hybridized. Besides, a detailed characterization and finite element simulations were carried out to explain the interaction effects observed between the phases of the HMPNPs. The study also analyzed the heating power of these nanostructures when they were excited with infrared light and AC magnetic fields, and compared this with the heating power of their plasmonic and magnetic components. In the latter case, the AC magnetization curves revealed that the magnetic dipolar interactions increase the amount of heat released by the hybrid nanostructures.