Utilization of magnetic nanoparticle-mediated conversion of electromagnetic energy into heat is gaining attention in catalysis as a source of heat needed for a substrate’s chemical reaction (electrification of chemical conversions). We demonstrate that rapid and selective heating of magnetic nanoparticles opens a way to the rapid synthesis of a nanocatalyst. Magnetic heating caused rapid reduction of Ru³⁺ cations in the vicinity of the support material and enabled preparation of a Ru nanoparticle-bearing nanocatalyst. Comparative synthesis conducted under conventional heating revealed significantly faster Ru³⁺ reduction under magnetic heating. The faster kinetic was ascribed to the higher surface temperature of the support material caused by rapid magnetic heating. The nanocatalyst was rigorously tested in the hydrotreatment of furfural. The activity, selectivity and stability for furfural hydrogenation to furfuryl alcohol, a valuable biobased monomer, remained high even after four magnetic recycles.