Novel biocompatible poly(ɛ-caprolactone) (PCL) was synthesized via in situ ring-opening polymerization of ɛ-caprolactone under different concentrations (10, 20, and 30 wt%) of capped magnetic nanoparticles (CMPs). The prepared PCL/CMP composites were characterized using Fourier transform infrared, UV-vis spectra, and X-ray photoelectron spectroscopy to demonstrate the interaction between PCL and CMP. X-ray diffraction patterns, scanning electron microscopy with energy dispersive X-ray spectroscopy, and thermogravimetric analysis were used to understand the structural nature and thermal stability of the polymer composites. Honeycomb-patterned thin films were fabricated by casting the composite solutions under humid conditions. The I–V characteristics and magnetic behavior of the honeycomb-patterned films were observed and compared with those of the flat thin composite films. The honeycomb-patterned PCL/CMP composite films revealed higher conductivity than the flat films and showed a hysteresis loop in the magnetization plotted against the applied magnetic field for magnetic behavior.