In the present study, a new nanocomposite of iron/cobalt oxides and magnetic nanoparticle doped with polyaniline (PANI-Co3O4@MNPs) was synthesized and subsequently, evaluated for its potential in decontaminating nitrate ions from underground water. Various parameters such as pH, mass dosage, adsorption time, initial concentration and temperature important in obtaining optimum conditions required to attain maximum performance for the reported nanocomposite in nitrate removal were experimentally investigated. The important surface and chemical properties of PANI-Co3O4@MNPs including surface morphology and roughness, composition and chemical structure were evaluated using various spectroscopic techniques such as Field Emission Scanning Electron Microscope (FE-SEM), Energy-Dispersive X-ray spectroscopy (EDX) and Fourier Transform Infrared (FTIR). Finally, the removal of nitrate was assessed using kinetic, adsorption isotherm and thermodynamic studies to investigate the underlying mechanism of the removal process into PANI-Co3O4@MNPs sorbent. The kinetic studies and the adsorption isotherms have been well explained using pseudo first and the Freundlich models respectively whereas the thermodynamic parameters have been described in terms of enthalpy, entropy and Gibbs free energy which showed a negative value signifying that the adsorption process was exothermic and spontaneous in nature.