Conjugation of optical and magnetic responses in a unique system at the nanoscale emerges as a powerful tool for several applications. Here, we fabricated bifunctional CoFe2O4-core/ZnO-shell nanoparticles with simultaneous photoluminescence in the visible range and ac magnetic losses suitable for hyperthermia. The structural characterization confirms that the system is formed by a ≈7 nm CoFe2O4 core encapsulated in a ≈1.5-nm-thick semiconducting ZnO shell. As expected from its high anisotropy, the magnetic losses in an ac magnetic field are dominated by the Brown relaxation mechanism. The ac magnetic response of the core/shell system can be accurately predicted by the linear response theory and differs from that one of bare CoFe2O4 nanoparticles as a consequence of changes in the viscous relaxation process due to the effect of the magnetostatic interactions. Concerning the optical properties, by comparing core/shell CoFe2O4/ZnO and single-phase ZnO nanoparticles, we found that the former exhibits a broade...