We report a one-pot synthesis of hybrid nanocomposites of Cu-doped Pd-Fe3O4via controlled thermal decomposition of Fe(CO)5 and reduction of Pd(OAc)2 and Cu(acac)2. Sodium oleate, used as a capping agent, affected both the morphologies and surface areas of the Cu-doped Pd-Fe3O4 nanocomposites. To the best of our knowledge, these magnetically recyclable hybrid nanocomposites are a new class of nanocatalysts, and the tandem synthesis of 2-phenylbenzofuran from 2-iodophenol with phenylpropiolic acid catalyzed by heterogeneous nanocatalysts has not been reported in the literature. Moreover, Cu-doped Pd-Fe3O4 nanocatalysts are superior to previously reported catalysts for this tandem reaction.