This study describes the synthesis and characterization of multifunctional inorganic nanoparticles that combine magnetic resonance (MR) imaging, fluorescence imaging, and drug delivery capabilities. Superparamagnetic iron oxide nanocrystals were encapsulated within mesoporous silica spheres, which were then labeled with fluorescent dye molecules and coated with hydrophilic groups to prevent aggregation. These nanoparticles were designed to deliver water-insoluble anticancer drugs into human cancer cells, with increased uptake observed in cancer cells relative to non-cancerous fibroblasts due to surface conjugation with cancer-specific targeting agents. The nanoparticles were shown to be effective in both MR imaging and fluorescence imaging, and they successfully delivered drugs to cancer cells, demonstrating their potential for simultaneous imaging and therapeutic applications. The synthesis methods used are simple and cost-effective, making large-scale production feasible. The multifunctional nanoparticles could potentially be used for non-invasive tracking and targeted treatment of cancer while minimizing toxicity to normal tissues.This study describes the synthesis and characterization of multifunctional inorganic nanoparticles that combine magnetic resonance (MR) imaging, fluorescence imaging, and drug delivery capabilities. Superparamagnetic iron oxide nanocrystals were encapsulated within mesoporous silica spheres, which were then labeled with fluorescent dye molecules and coated with hydrophilic groups to prevent aggregation. These nanoparticles were designed to deliver water-insoluble anticancer drugs into human cancer cells, with increased uptake observed in cancer cells relative to non-cancerous fibroblasts due to surface conjugation with cancer-specific targeting agents. The nanoparticles were shown to be effective in both MR imaging and fluorescence imaging, and they successfully delivered drugs to cancer cells, demonstrating their potential for simultaneous imaging and therapeutic applications. The synthesis methods used are simple and cost-effective, making large-scale production feasible. The multifunctional nanoparticles could potentially be used for non-invasive tracking and targeted treatment of cancer while minimizing toxicity to normal tissues.