In this project, we described the production of chrysin-loaded L-phenyl alanine (Phe)-coated iron oxide magnetic nanoparticles (chrysin@Phe@IOMNs). chrysin@Phe@IOMNs were characterized by X-ray diffraction, thermogravimetric analysis, fourier transform infrared spectroscopy, vibrating sample magnetometer, and transmission electron microscopy techniques. Next, hemocompatibility and biocompatibility of Phe-coated IOMNs were determined by hemolysis and MTT assays on HFF-2 and HEK-293 cell lines, respectively. Finally, the anticancer activity of chrysin@Phe@IOMNs was examined on MCF-7 cell line. The outcomes direct that as-prepared nanocarriers are nontoxic and biocompatible and also chrysin@Phe@IOMNs are appropriate for chrysin delivery and other hydrophobic therapeutic agents.