Fe3O4/poly(styrene-co-acrylic acid) magnetic polymer nanocomposites were synthesized by the dispersion polymerization method using styrene as hard monomer, acrylic acid as functional monomer, Fe3O4 nanoparticles modified with oleic acid as core, and poly(styrene-co-acrylic acid) as shell. Drug-loading properties of magnetic polymer nanocomposites with curcumin as a model drug were also studied. The results indicated that magnetic polymer nanocomposites with monodisperse were obtained, the particle size distribution was 50–120nm, and the average size was about 100nm. The contents of poly(styrene-co-acrylic acid) and Fe3O4 nanoparticles in magnetic polymer nanocomposites were 74% and 24.7%, respectively. The drug-loading capacity and entrapment efficiency were 2.5% and 44.4%, respectively. The saturation magnetization of magnetic polymer nanocomposites at 300K was 20.2emu/g without coercivity and remanence. The as-prepared magnetic polymer nanocomposites have not only lots of functional carboxyl groups but also stronger magnetic response, which might have potential applications in drug carrier and targeted drug release.