In this study, a C–CoFe2O4 composite is proposed for reduction in an induction heating reactor with a continuous argon flow. An impressive conversion efficiency of 87% is achieved at a maximum temperature of 325 °C in just 8 min without the need for vacuum. The impact of the molar ratio of metal oxide to reducing agent (acetylacetone) is also examined. Results indicate that a 1:1 ratio favours the reduction towards cobalt and iron monoxides, while a 1:3 ratio yields a 31% metal phase. The highest conversion (87%) is seen with a 1:17 ratio, indicating the need for excess reducing agent for effective conversion of CoFe2O4 oxide. The molar ratio influences the induction heating temperature, with the 1:17 ratio having a lower temperature of 325 °C compared to 450 °C for other ratios. These operating temperatures (≤450 °C) are significantly lower than those reported in the literature for carbothermal reduction in an induction reactor (>1700 °C), which often requires vacuum and very high temperatures for high conversion efficiency. The proposed process offers advantages such as high conversion efficiency, fast processing, and simpler operational conditions. Additionally, the metallic phases produced are utilized for H2 production in thermochemical water splitting, showcasing these materials potential for energy generation applications.