Magnetic chitosan nanocomposite films were prepared by a simple one-step method based on the in situ co-precipitation of nanomagnetite. Both plasticized and no-plasticized films were obtained and characterized by means of X-ray diffraction (XRD), transmission electron microscopy (TEM), scanning electron microscopy (SEM), Fourier Transform infrared spectroscopy (FTIR), thermal gravimetric analysis (TGA) and mechanical (tensile) and dynamic mechanical characterization. Nanomagnetite particles formed inside chitosan films were spherical with diameters ranging from 5 to 13nm. The film surface and morphology and mechanical behavior were greatly affected by nanoparticles concentration, leading to increasing roughness, stiffness and fragility as the iron oxide content increases. The nanoparticles interact strongly with the chitosan matrix, as was corroborated by TGA, FTIR and DRX. Even though, particles retain their magnetic characteristics and thus, composites containing more than 2wt% NMP exhibit magnetic behavior.