Monodisperse and stable cobalt ferrite (CoFe2O4) nanoparticles (5.4 nm) have been produced, coated with mono- and difunctional phosphonic and hydroxamic acids, and fully characterized (using thermogravimetric analysis (TGA), dynamic light scattering (DLS), IR spectroscopy, transmission electron microscopy (TEM), and superconducting quantum interference device (SQUID) measurements). Cobalt leakage of the coated nanoparticles has been also studied. Magnetic measurements show the possible applications in hyperthermia at low frequencies, and for this reason, water-soluble coated CoFe2O4 can be seen as a first step toward the obtainment of novel systems for biomagnetic applications.