A model description of the direct and reverse acoustomagnetic effect (AME) in nanocrystaline composites produced by solidification of magnetic fluid (MF) is performed, in particular, the frequency, orientation and field dependences of the speed-induced generator voltage in the conducting circuit in the acoustic field and the elastic wave amplitudes generated in the waves in a variable magnetic field in the accompanying constant magnetic fields are addressed. Their values can be derived by setting the distribution function of the easy axes of MF particles, which in turn is controlled by the MF solidification temperature and the "freezing" magnetic field. This provides for nanocomposites with predetermined parameters of the direct and reverse AME.Keywords: nanosized disperse magnetic structures, nanocomposite, longitudinal acoustic wave, frequency, direction, rotation process of the spontaneous magnetization vector, direct acoustic effect, reverse acoustic effect.Extraordinary features of nanosized magnetic and non-magnetic structures, which have been revealed within the recent years, favor their intensive application in most various fields of science and engineering [1][2][3][4]. These important and most unique features stem from their exotic crystal structure, i.e., the kind of atoms and geometry of their arrangement in nanocomposites containing the main (in terms of volume) crystal phase and some interphase structure without any short-range ordering. On the other hand, in diluted frozen magnetic fluids their phase volume ratio can be opposite. In the latter case, where the volume content of MF particles is 1 k n << , then, neglecting the dipole-dipole interactions of MF particles as compared to the external constant magnetic field 0 H affecting them, we might take that the orientation distribution of their orientation magnetization vectors ferr V = s p I would be given by a Langevin function 0 B cos 0 0 B B ( ) sin 2 sinhwhere sinh is a hyperbolic sine. This distribution can be fixed by freezing at fr T T = in the MF field f H . As a result, the contribution into AME would come only from the rotation processes in MF particles. Let us first address the case where a constant magnetic bias field 0 H , into which a nanocomposite is immersed, is not applied (frozen MF) and the wave vector k of the longitudinal ultrasonic wave generated at the external face of the composite is directed along fr H -its freezing field. Take a random particle of the same MF with vector p along its easy axis making an angle θ with k of the US-wave of the field 0 cos( ) r e t k r −α σ = σ ω − , where α is the coefficient of acoustic absorption