An effective strategy of hyperthermia-chemotherapy-regeneration for bone-related cancer treatments is presented. For this purpose, a new approach of magnetic particles (MPs) encapsulated in bioactive glass (BG) structure, with anti-cancer activity, is evaluated. MPs are initially synthesized using co-precipitation method and then embedded into BG structure through sol-gel synthesis process. Results confirmed the formation of a crystalline and pure MP structure. MP-BG particles were found to be bioactive by forming a hydroxyapatite layer on their surface. The hyperthermia application of MP-BG system was also studied. It was found that the particles reach a temperature of 42 °C in an alternating magnetic field. Doxorubicin (DOX), a widely used anticancer drug, was loaded in MP-BG. To enhance loading efficiency, BG was surface modified to create NH2 groups on the surface. The encapsulation and release of DOX was studied over 48 h. In vitro tests were performed using human osteosarcoma cell line (MG63). The results demonstrated the non-cytotoxic nature of MP and MP-BG tested at various concentrations. DOX release from MP-BG resulted in decreased MG63 viability. Also, fluorescence microscopy visualization confirmed the intracellular uptake of MP-BG particles and the release of DOX. These results indicate that our suggested strategy of combined hyperthermia-chemotherapy-regeneration using MP-BG structure represents a powerful approach in cancer treatment and tissue regeneration.