In the present work, cross linked enzyme aggregates of Lipase (CLEAs-lip) was synthesized and immobilized on the magnetic amino functionalized graphene oxide (maGO-CLEAs-lip) nanocomposites. The immobilized lipase showed a broad range of temperature activity about 40-60 degrees C, as compared to free enzyme. In the case of maGO-CLEAs-lip nanocomposite, the observed lower Km value state 2.25 folds affinity for the p-nitrophenyl palmitate. Enzyme activity of maGO-CLEAs-lip nanocomposite was the highest up to 5 cycles. Storage stability results displayed maGO-CLEAs-lip retained about 75% of its original activity after 30 days of incubation. Remarkably, maGO-CLEAs-lip formed the highest biodiesel construction (78%) from R. communis oil after 24 h of incubation. The biodiesel yield of this nanocomposite was 3.0 folds higher than free enzyme, making it talented as an excellent nanobiocatalyst for efficient production of biodiesel.