A "Chemical one step method" (COSM) is proposed to prepare electromagnetic functional composite nanofibers of polyaniline (PANI/gamma-Fe2O3) having a diameter of approximate to 20 nm. In this approach FeCl3 is acts as the oxidant either for polymerization of aniline or for preparation of gamma-Fe2O3 magnets. Besides, it also provides protons produced by the hydrolysis process for doping PANI. It is found that the composite nanofibers have a high conductivity (10(-1) similar to 10(0) S . cm(-1)) and super-paramagnetic properties (M-s = 0.46 similar to 6.03 emu . g(-1) and H-c = 0) at room temperature, where the conductivity is mainly affected by the molar ratio of FeCl3 to aniline monomer whereas the magnetic properties are dominated by the amount of FeCl2.