Abstract Dynamic magnetic measurements on magnetic nanoparticle (MNP) samples have been widely used for the determination of structural MNP parameters as well as for the realization of bioassays. On the other hand, proposed that the MNPs are thermally blocked, i.e., that the dynamics are dominated by the Brownian rotation, and knowing the distribution of their hydrodynamic size, information on the matrix properties can be obtained. In contrast to conventional rheology, the local environment of the MNPs is sensed on the nanoscale so that important information on the embedding of MNPs in the matrix and thus the particle-matrix interaction is obtained. Depending on the characteristic length scales of the matrix and the size of the MNPs, rheological parameters, such as viscosity and shear modulus, derived from nanorheological measurements can differ from the values obtained from conventional rheology. To measure the MNP dynamics, different experimental techniques can be applied. In this contribution, the focus lies on ac susceptometry and fluxgate magnetorelaxometry. The analysis of the complex ACS spectra is generally carried out within a modified Debye model. Different approaches for the estimation of rheological parameters from the complex ACS spectra will be presented. Two model systems will exemplarily be discussed in detail. As a Newtonian matrix system, water-glycerol mixtures were studied. It is demonstrated that the dynamic viscosity can accurately be estimated from ACS measurements on well thermally blocked single-core as well as on multicore MNP systems, which include Brownian and Néel dynamics. As a viscoelastic matrix system, aqueous gelatin solutions were studied. Gelatin is known to be a Voigt-Kelvin model system, in which elastic and viscous forces are parallel. In particular, we studied the gelation dynamics by repetitive measurements of the complex ACS spectrum. Different approaches to derive viscosity and shear modulus are applied and compared. In order to identify magnetoviscous effects in dynamic magnetic measurements, the magnetic field dependence of the Brownian relaxation time has to be eliminated. ACS measurements on various sufficiently strongly diluted aqueous MNP suspensions were performed in dependence of ac field amplitude and superimposed dc field strength and compared to theory. Excellent agreement was found.