Water dispersible cobalt ferrite nanoparticles, CoxFe3-xO₄, of different size (4-10 nm) and various composition (0 ≤ x ≤ 1), functionalized with a rhamnose derivative were obtained and characterized by combining TEM, XRD and elemental analyses techniques. Magnetic properties of these systems were studied by SQUID magnetometry. A particular emphasis was given to the investigation of magnetocrystalline anisotropy and size effect on the heating abilities of the nanoparticles under the application of an alternating magnetic field.