Novel multifeatured hollandite K1.46Fe0.8Ti7.2O16 (KFTO) was synthesized by a simple hydrothermal method. Magnetic KFTO microrods were well controlled to long rectangular rods with pyramid-shaped tops. A KFTO growth mechanism was proposed on the basis of examining phase and morphology of the samples acquired at different reaction times. The KFTO morphology was confirmed by the calculated surface energies. The UV vis diffuse reflectance spectra of KFTO microrods showed double absorption with band gaps of 2.01 and 2.16 eV, which was further confirmed by photoluminescence. First-principles studies revealed that the double absorption and magnetic properties originate from the d-d transitions of Fe3+ under crystal field. The magnetic property could be applied in ferromagnetic semiconductor devices and the double absorption could be applied in visible-light harvesting. This work highlights the multifunctional KFTO microrods with low cost the and environmental friendliness.