Regeneration of critical size bone defects is still a major concern in orthopedics and requires the use of porous scaffolds with osteogenic and osteoconductive ability, able to boost cell activity towards the regenerative cascade. Even though magnetic-based targeted therapies for bone regeneration are very promising, they are affected by the low penetrating capacity of externally applied magnetic fields to reach the therapeutic site inside the human body. A strategy to overcome this pitfall is to implant magnetic scaffolds sensitive to magnetic stimulation or capable to be remotely activated by a calibrated magnetic field inside the patient body. In this work, we report on highly porous and magnetic scaffolds obtained by foaming process, consisting in hydroxyapatite matrices added with increasing amounts of magnetite nanoparticles. Extensive characterization of compositional, morphological, mechanical and magnetic properties was carried out, as well as a number of biological assays to extensively evaluate biological performances. The sintering temperature affected the magnetic properties of the materials by determining the phase transformation of magnetite into weakly magnetic or diamagnetic iron oxide phases such as hematite. However, this phenomenon was relevant only for scaffolds with a 50 wt% of magnetite, while below this value the hydroxyapatite matrix protected the magnetic phase from this transformation, thus ensuring the retention of valuable magnetic characteristics. The porous scaffolds exhibited good mechanical strength and magnetic properties enabling uses in hyperthermia-based therapies, displaying also high biocompatibility and cell conductivity into the inner part of the scaffold thanks to high open and interconnected submicro-ultramacro porosity.