The heat transfer characteristics and entropy generation rate of hybrid graphene-magnetite nanofluids under forced laminar flow that subjected to the permanent magnetic fields were investigated. For this purpose, a nano scale reduced graphene oxide-Fe3O4 hybrid was synthesized by using graphene oxide, iron salts and tannic acid as the reductant and stabilizer. The thermophysical and magnetic properties of the hybrid nanofluid have been widely characterized and thermal conductivity has shown an enhancement of 11%. The experimental results indicated that the heat transfer enhancement of hybrid magnetite nanofluid compared to the case of distilled was negligible when no magnetic field was applied. Additionally, the heat transfer characteristics have been improved significantly under magnetic field. The outcome of the analysis shows that the total entropy generation rate was reduced up to 41% compared to distilled water. It appears that these magnetic hybrid nanofluids can function as good alternative fluids in the magnetic thermal engineering systems. (C) 2016 Elsevier B.V. All rights reserved.