In this paper, graphene oxide was synthesized using the Hummer’ s method. Then, an efficient method for the synthesis of Reduced Graphene Oxide/Magnetite (RGO/Fe3O4) nanocomposite is presented. The properties of RGO/Fe3O4 nanocomposite were investigated using FT-IR, XRD, VSM and SEM. The SEM images show that magnetite nanoparticles were appropriately placed on graphene sheet. Distribution of Fe3O4 nanoparticles on the graphene sheets was properly established. The average size of 22 ± 5 nm for Fe3O4 nanoparticles, which have been put on graphene substrates, was measured using SEM images. The VSM results demonstrate that there is no apparent change in the properties of magnetite nanoparticles in RGO/Fe3O4 nanocomposite. Therefore, this nanocomposite could be appropriate for magnetic applications. A cyclic voltammetric analysis was performed to investigate the electron transfer kinetics in nanocomposite. Distribution of Fe3O4 NPs on the graphene layers increased the efficiency and sensitivity of the electrochemical sensor, causing the RGO/Fe3O4 nanocomposite to have considerably higher electrochemical catalytic properties. A modified GCE was also fabricated based on RGO/Fe3O4 nanocomposite to investigate the electrocatalytic oxidation of K3[Fe(CN)6] using cyclic voltammetry detection. In cyclic voltammetry studies, oxidation current enhancement was observed when magnetite nanoparticles loaded on graphene substrates, which could make RGO/Fe3O4 nanocomposite as an efficient electrochemical sensor.