Novel luminescent-magnetic cellulose microfibers were prepared by a dry-wet spinning method with the use of N-methylmorpholine-N-oxide. The synthesized luminescent-magnetic core/shell type nanostructures, based on the lanthanide-doped fluorides and magnetite nanoparticles (NPs)-Fe3O4/SiO2/NH2/PAA/LnF3, were used as nanomodifiers of the fibers. Thanks to the successful incorporation of the bifunctional nanomodifiers into the cellulose structure, the functionalized fibers exhibited superior properties, that is, bright multicolor emission under UV light and strong magnetic response. By the use of the as-prepared fibers, the luminescent-magnetic thread was fabricated and used to sew and make a unique pattern in the glove material, as a proof of concept for advanced, multimodal cloths'/materials' protection against counterfeiting. The presence and uniform distribution of the modifier NPs in the polymer matrix were confirmed by X-ray diffraction, scanning electron microscopy, and energy-dispersive X-ray analysis (EDX). The concentration of the modifier NPs in the fibers was determined by inductively coupled plasma mass spectrometry, EDX, and magnetic measurements. The luminescence characteristics of the materials were examined by photoluminescence spectroscopy, and their magnetic field-responsive behavior was investigated by a superconducting quantum interference device.