The dielectric and magnetic properties of manganese oxide-coated Fe3O4 nanoparticles (NPs) were measured by the cavity perturbation method at x-band microwave frequencies ranging from 7–12.5 GHz with controlled external magnetic field up to 2.2 kOe at room temperature. Different ratios (5%, 10%, and 20% by weight) of coated NPs were prepared by sol-gel method then mixed with carbonyl iron powder in epoxy matrix. The saturation magnetization is inversely proportional to the NPs ratio in the mixture between 150 and 180 emu/g. The real part of the permittivity decreased with increasing NPs concentration, but the permittivity change by magnetic field increased. The tunability behavior is explained by insulator-ferromagnetic interface magnetoelectricity and the large surface volume ratio for the NPs.