Mineral acid catalysis in Fisher-Speier esterification is hazardous and have other disadvantages. The objective of the study was immobilization of Candida rugosa lipase onto iron oxide (Fe3O4) impregnated magnetic mutiwalled carbon naotubes (MMWCNTs) using amine functionalized polyamidoamine (PAMAM) dendrimers for manufacture of butyl butyrate ester. Dendrimers were synthesized from reaction of ethyl methacrylate with varying chain length of diamines 1, 4 diaminobutane (DAB) / 1, 3 diaminopropane (DAP) / ethylene diamine (ED). The effect of aliphatic alkyl chain length (CH2) of functionalizing agents ED, DAP and DAB, and dendrimer generations on amount of terminal NH2 group, surface charge, protein loading and immobilized enzyme activities were analysed. Magnetic MWCNTs support surface modified with third generation PAMAM using ethylene diamine showed highest protein load 220.1 mg g−1 and enzymatic activity 8,276.21 U g−1 support. The immobilized enzyme particles were characterized by HRTEM, FTIR, XRD, TGA, VSM and Zeta potential analysis. The immobilized enzyme showed improvement in the dispersion, activity, stability and reusability characteristics. Maximum esterification yield 92.67 % and reuse upto 11 cycles with 65.2 % yield obtained. The immobilized preparation showed 2.3 folds esterification than free enzyme. Developed nanobiocatalyst expects to possess potential for various other applications of lipase catalysed reactions.