Stabilized biocompatible superparamagnetic iron oxide nanoparticles (SPIONs) were prepared by controlled coprecipitation method for hyperthermia application. ESR measurements determined that all of the interactions in the individual SPIONs (1 nm and 11 nm) were antiferromagnetic in nature because the ions contributed to the magnetization with a range of magnetic moments. In-situ monitoring of the temperature increment was performed, showing that the microwave absorption rate of the SPIONs was dispersed in an appropriate host media (polar or non-polar solvents) during microwave irradiation. Microwave absorption energy rates and heat loss of SPIONs in solvent were calculated by non-linear data fitting with an energy balance equation. The microwave absorption rates of SPIONs dispersed in solvent linearly increases when the concentration of SPIONs increases, implying that the microwave absorption rate can be tunable by changing the concentration of SPIONs.