In this study, the survey of the wave dispersion behaviors of sandwich composite nanoplates is carried out by considering the magnetostriction phenomenon. The nanoplate is assumed to be made up of a central magnetostrictive core in addition to two composite face sheets. The scale influences are covered based on the nonlocal strain gradient theory. Moreover, the equations of plate motion are derived according to the classical plate theory. Afterward, the magnetization effects are considered by introducing a feedback control system. Then, Hamilton’s principle is introduced to obtain the Euler–Lagrange equations of the magnetostrictive sandwich composite nanoplate. Also, by relating the achieved equations with those of the nonlocal strain gradient theory, the nonlocal governing equations of magnetostrictive sandwich composite nanoplate are developed. The wave frequency and phase velocity values are computed by the application of an analytical solution. Finally, the effects of participant coefficients are illustrated separately through certain figures.