The preparation of highly porous CoFe2O4-SiO2 nanocomposite aerogels was successfully achieved by a novel sol-gel procedure involving urea-assisted co-gelation of the precursor phases. This method allows fast gelation, giving rise to an aerogel with 97% porosity. The formation of CoFe2O4 nanocrystals homogeneously distributed within the matrix occurs after calcination at 750 degrees C and is complete at 900 degrees C. Despite the high temperature required for the formation of the CoFe2O4 nanocrystals, the high porosity typical of aerogels is still retained.