Present study synthesized stimuli-sensitive drug delivery systems for anti-cancer drug doxorubicin hydrochloride (Dox) and antibiotic drug gentamicin sulphate (GS) using sterculia gum, gelatin, and Fe3O4 nanoparticles. The approach involved oxidizing sterculia gum with NaIO4, followed by self-crosslinking with gelatin resulting a pH-responsive protein hybrid crosslinked network. Further gel matrix was reinforced with Fe3O4 nanoparticles resulted in magnetic nanocomposite hydrogel. FTIR, powdered XRD, and FESEM had been used to characterize the functionalized drug-loaded hydrogels. In vitro release behavior of Dox and GS had been studied in pH 2.2, 7.0, 7.4, simulated gastric fluid (SGF) and in simulated intestinal fluid (SIF). For both drugs, highest release had been achieved in pH 2.2 and SGF, while minimum in physiological pH 7.4. The release mechanisms adopted by Dox and GS from drug loaded OSG-cl-Gelatin and OSG-cl-Gelatin/Fe3O4 matrix have been assessed using different mathematical models viz Zero order, First order, Higuchi kinetic model and Korsmeyer Peppas model in different release mediums. Drug release mainly had occurred through Case-II diffusion mechanism. In acidic pH, Dox release followed Higuchi kinetic model while GS release occurred through Korsmeyer Peppas model. Hydrolytic degradation potential, thrombogenicity and haemocompatible behavior of functionalized gel matrix had also been screened.