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α‐Fe2O3 and α‐Fe2O3/graphene oxide (GO) nanocomposites are synthesized by solvothermal method in acetonitrile medium at 200 °C. XRD studies reveals the formation of α‐Fe2O3 and α‐Fe2O3/GO nanocomposites. Raman studies indicate that GO in α‐Fe2O3/GO system was more disordered than GO. The enhanced low temperature magnetic saturation and coercivity in α‐Fe2O3 and α‐Fe2O3/GO are related to frozen canted spins. Blocking temperature of α‐Fe2O3/GO is 348 K, which also shows higher coercivity of the order of about 3064 Oe at 5 K. The α‐Fe2O3/GO composite exhibits thermal hysteresis at Morin transition (ΔTM = 11 K).

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