A novel and general method has been developed for oxidation of benzylic alcohols using magnetic nanoparticles immobilized salophen Co(II) as an efficient and recyclable catalyst. The structural and magnetic properties of catalyst are identified by transmission electron microscopy (TEM), vibrating sample magnetometer (VSM) FT-IR and XRD instruments. Nanocatalyst can be easily recovered by a magnetic field and reused for subsequent reactions for at least 5 times with less deterioration in catalytic activity.