Ferrite and ferrite-based materials are widely used for biomedical and energy storage applications, due to their biocompatibility and magnetic property. In this study, Fe3O4 and CoFe2O4 nanoclusters were synthesised using a modified solvothermal method. The structure and morphology were analysed using X-ray diffraction (XRD), scanning electron microscopy (SEM), and the magnetic property of the samples were determined using vibrating sample magnetometry (VSM). The phases observed through the experiments were well matched with the standard JCPDS data observed for both Fe3O4 and CoFe2O4. SEM images revealed a uniform spherical morphology of the nanoclusters, while the VSM measurement indicates the ferromagnetic nature with the coercivity (Hc) values are 190 and 1132 Oe and the saturation magnetization (Ms) values of 87.17 and 59.12 emu/g corresponds to Fe3O4 and CoFe2O4 nanoclusters. The higher coercivity of CoFe2O4 is attributed to its enhanced magneto-crystalline anisotropy. These unique hierarchical structure and better magnetic response of these nanocluster make them a promising candidate for advanced biomedical applications especially in magnetic hyperthermia.