The limitation of clinical use of doxorubicin is its side effects especially a cumulative dose-dependent cardiotoxicity. To overcome this, doxorubicin can be targeted to accumulate on the site of action and limit dispersion in healthy tissue. Magnetic liposomes or magnetoliposomes (MLs) are enabling targeted delivery of doxorubicin to a specific area exposed in a magnetic field. The objective of this study was synthesis and cytotoxicity study of magnetoliposomes loaded doxorubicin (MLs-Dox). MLs-Dox were prepared from phosphatidylcholine and cholesterol by a modified version of the evaporation and sonication method. The average size was 45.1 ± 7.5 nm with narrow uniform size distribution and its magnetization was 670 emu/g. Furthermore, the percentage of doxorubicin encapsulation is 81.6 ± 4.9. We found that the cytotoxicity of MLs-Dox was increased according to the strength and applied time of magnetic field. The results of this study suggested that MLs-Dox should be able to archive the good magnetic carriers for targeting doxorubicin delivery.