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Magnetic nanoparticle compositions are provided which provide an inherent temperature regulator for use in magnetic heating, particularly for use in magnetic hyperthermia medical treatments. The composition includes magnetic nanoparticles having a Curie temperature of between 40 and 46° C., preferably about 42° C., and may further include a polymeric material and optionally a drug or radiosensitizing agent. Methods of hyperthermia treatment of a patient in need thereof are provided which include the steps of administering to the patient a composition comprising magnetic nanoparticles having a Curie temperature of between 40 and 46° C.; and exposing the magnetic nanoparticles in the patient to an alternating magnetic field effective to generate hysteresis heat in the nanoparticles.