Preparation of manganese ferrite (MnFe2O4) nanorods by the reduction of akaganeite seeds in the presence of oleylamine is reported. The Mn-doped β-FeOOH akaganeite seeds have been processed by the hydrolysis of metal-chloride salts in the presence of polyethylenimine (PEI) surfactant. The hydrophobic oleylamine capped nanorods are made hydrophilic using trisodium citrate as a phase transferring agent. The nanorods form with an aspect ratio of 5.47 and possess a high magnetisation value of 69 emu/g at an applied magnetic field of 1.5 T. The colloidal water dispersion of nanorods exhibits superior heating efficiency by the application of alternating magnetic field (AMF). A specific absorption rate value of 798 W/g is achieved at an applied AMF of field strength 500 Oe and frequency 316 kHz. Further, the citrate functionalised nanorods are capable of attaching with doxorubicin (DOX) electrostatically with a loading efficiency of 97% and the drug release is pH responsive. The DOX loaded nanorods show a promising effect on the apoptosis of MCF-7 as experimented in vitro.