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We report chemically synthesized highly crystalline lanthanum strontium manganite (LaSrMnO3) and Eu-doped Y2O3 and their composites. The synthesis yields nanoparticles of size 30–40 nm. Magnetic measurements performed on nanoparticles and composites show magnetic transition at about 370 K with a superparamagnetic behavior at room temperature. The ferromagnetic resonance studies of the nanoparticles show large linewidth due to surface strains. The composite nanoparticles also display luminescent behavior when irradiated with ultraviolet light. The manganites as well their composite with the luminescent nanoparticles may be very useful for biomedical applications.