Localized heat induction using magnetic nanoparticles under an alternating magnetic field is an emerging technology applied in areas including, cancer treatment, thermally activated drug release and remote activation of cell functions. To enhance the induction heating efficiency of magnetic nanoparticles, the intrinsic and extrinsic magnetic parameters influencing the heating efficiency of magnetic nanoparticles should be effectively engineered. This review covers the recent progress in the optimization of magnetic properties of spinel ferrite nanoparticles for efficient heat induction. The key materials factors for efficient magnetic heating including size, shape, composition, inter/intra particle interactions are systematically discussed, from the growth mechanism, process control to chemical and magnetic properties manipulation.