The increasing number and concentration of organic pollutants in water stream could become a serious threat in the near future. Magnetite has the potential to degrade pollutants via photocatalysis with a convenient separation process. This study discusses in detail the control size and morphology of magnetite nanoparticles, and their composites with co-precipitation, hydrothermal, sol-gel, and electrochemical route. Further photocatalytic enhancement with the addition of metal and porous support was proposed. This paper also discussed the technology to extend the lifetime of recombination through an in-depth explanation of charge transfer. The possibility to use waste materials as catalyst support was also elucidated. However, magnetite-based photocatalysts still require many improvements to meet commercialization criteria.