A one-pot colloidal reaction strategy was developed to synthesize asymmetric magnetic composite particles (AMCPs) with high anisotropy and magnetic content. The asymmetricity was established by having two portions of the particle composed of both polystyrene and silica, among which the latter was conjugated with magnetite nanoparticles. Phase separation was found to be critical in developing the asymmetric structure between the inorganic and polymer components during miniemulsion polymerization and the sol-gel reaction. Morphological control of the magnetic composite particles was achieved in a straightforward fashion by adjusting the processing parameters. These asymmetric nanomaterials with superparamagnetic and amphiphilic properties will have significant potential in biomedical applications.