Construction of a theranostic agent which integrates multiple modalities with different functions into one entity is challenging from a molecular design and synthesis perspective. In this context, the present paper reports the fabrication of a novel type of multifunctional hybrid nanoparticle composed of magnetic gadolinium oxide-iron oxide core, mesoporous silica shell gated with boronic acid functionalized highly luminescent carbon quantum dot (BNSCQD). The porous silica shell acts as an excellent reservoir for anticancer drug 5-fluorouracil, whereas the BNSCQD cap impressively controls the drug transport under simulated intracellular environment. Furthermore, recognition and fluorescence turn on response of BNSCQD toward cell surface glycan sialyl Lewis(a) (SLa) enables targeted drug release and excellent fluorescence imaging of SLa overexpressed HePG2 cancer cells. The r(1) and r(2) relaxivities of the material are found to be 10 and 165 mM(-1) s(-1) which is comparable to commercially available magnetic resonance imaging contrast agents. Benefiting from the combined advantages of dual stimuli-responsive drug release, excellent optical imaging, and MR imaging, this novel construct can be a promising theranostic material.