Facile method for preparation of magnetic molecularly imprinted polymers was developed via ultrasound-assisted precipitation polymerization using caffeine as the model template. Magnetic iron oxide powder was incorporated into the imprinted polymer matrix containing methacrylic acid and ethyleneglycol dimethacrylate as a functional monomer and a crosslinker, respectively. The amount of Fe3O4 and sonication time were varied and the recognition properties of the produced magnetic polymers were investigated. It was found that the developed method allow up to 41.4 % inclusion of iron oxide into the polymer beads in single step. Surface functionalization of the magnetic core and the use of additive surfactant or stabilizer were unnecessary. Under the optimum conditions, highly selective magnetic caffeine-imprinted polymer was produced in moderate yield with comparable recognition properties relative to the previously reported imprinted non-magnetic material.