New thermoresponsive poly(N-isopropyl acrylamide-co-phthalocyanine) magnetic nanocomposites were prepared by in situ dispersion polymerization. 4-Nitrophthalic acid and CoCl2 were employed to synthesize tetranitrophthalocyanine and then it was converted to tetraaminophthalocyanine by sodium sulfide. The cobalt tetra(N-carbonylacrylic)aminophthalocyanine monomer was obtained by reaction of tetraaminophthalocyanine with maleic anhydrid. N-isopropylacrylamide as the main monomers, N,N=-methylenebisacrylamide as the cross-linker, poly(N-vinylpyrrolidone) as the steric stabilizer, potassium persulfate as the initiator, and new Fe-phthalocyanine oligomer/Fe3O4 nanohybrid particles (FePc/Fe3O4) as nanoparticles were used. The magnetite nanocomposites were characterized by Fourier-transform infrared spectrum, X-ray diffraction spectroscopy, scanning electron microscopy, thermogravimetric analysis, vibrating sample magnetometer, and differential scanning calorimetry. The results showed that the lower critical solution temperatures of the hydrogel nanocomposits were influenced by the content of FePc/Fe3O4 hybrid nanoparticles. The lower critical solution temperatures of the magnetic hydrogel nanocomposites F3 and F4 were at about 34 and 40 °C. The results show that the increase of FePc/Fe3O4 nanoparticle content caused the LCSTs of the hydrogels to increase. FePc/Fe3O4 nanoparticles were prepared from 4,4=-isopropyliden-bis-dioxydiphthalonitrile and FeCl3·6H2O via the solvothermal route. The sizes of nanoparticles were determined by scanning electron microscopy. They are spherical in shape and the average size of them is between 30 and 70 nm.