Abstract Magnetic materials at the nanometer scale can demonstrate highly tunable properties as a result of their reduced dimensionality. While significant advancements have been made in the production of magnetic oxide nanoparticles over the past decades, maintaining the magnetic and electronic phase stabilities in the nanoscale regime continues to pose a critical challenge. Finite-size effects modify or even eliminate the strongly correlated magnetic and electronic properties through strain effects, altering density and intrinsic electronic correlations. In this review, we examine the influence of nanoparticle size, shape, and composition on magnetic and tunneling magnetoresistance (TMR) properties, using magnetite (Fe 3 O 4 ) as an example. The magnetic and TMR properties of Fe 3 O 4 nanoparticles are strongly related to their size, shape, and synthesis process. Remarkably, faceted nanoparticles exhibit bulk-like magnetic and TMR properties even at ultra-small size-scale. Moreover, it is crucial to comprehend that TMR can be tailored or enhanced through chemical and/or structural modifications, enabling the creation of ‘artificially engineered’ magnetic materials for innovative spintronic applications.