In this study, for the first time we have developed the composite coatings using sol-gel derived hydroxyapatite [HAP: (Ca)₁₀(PO₄)₆(OH)₂] and magnetite (Fe₃O₄) on alkali treated Ti-6Al-4V alloy using various concentrations of Fe₃O₄ nanoparticles such as 1, 3 and 5 wt% respectively. The fabricated composite coatings were characterized by XRD, SEM-EDAX and contact angle measurements. In vitro bioactivity study confirmed that the composite coated Ti-6Al-4V was highly bioactive and induces bone like apatite formation in the presence of Fe₃O₄ NPs which involves the nucleus formation by developing Fe-OH groups on the surface of coatings. The corrosion resistance study proved that 1 wt% of Fe₃O₄ with HAP composite coatings exhibit good anticorrosion behaviour than the 3, 5 wt% of composites due to lower Fe-OH groups and uniform with adherent layer which restricts the leaching of ions. Hence, this finding suggested that HAP/Fe₃O₄ composites coated implants can be used for biomedical applications.