By using inorganic Fe3O4 nanoparticles of different content as nucleation sites, PAn-Fe3O4 nanorods were successfully synthesized through a simple, conventional, and inexpensive one-step in-situ polymerization method. The TEM images revealed the size and morphology of the resultant nanocomposite. The EDS pattern confirmed the existence of Fe3O4 in the composite. The FT-IR spectral analysis confirmed the formation of PAn encapsulated Fe3O4 nanocomposite. With the content of Fe3O4 increasing, the conductivity of the nanocomposites gradually decreases, meanwhile, the saturation magnetization increases and reveals a super paramagnetic behavior. With controllable electrical, magnetic, and electromagnetic properties, the well-prepared nanocomposites may have the potential applications in chemical sensors, catalysis, microwave absorbing, and electro-magneto-rheological fluids, etc.