This review summarizes the recent progress in iron-oxide-based heat generators. Cancer treatment using magnetic nanoparticles as a heat generator, termed magnetic fluid hyperthermia, is a promising noninvasive approach that has gained significant interest. Most previous studies on improving the hyperthermia effect have focused on the construction of dopant-containing iron oxides. However, their applications in a clinical application can be limited due to extra dopants, and pure iron oxide is the only inorganic material approved by the Food and Drug Administration (FDA). Several factors that influence the heat generation capability of iron-oxide-based nanoparticles are summarized by reviewing recent studies on hyperthermia agents. Thus, our paper will provide the guideline for developing pure iron oxide-based heat generators with high heat dissipation capabilities.