This study aimed to inspect the hierarchically structured spherical-like hematite (α-Fe2O3) nanoparticles synthesize by simple, low temperature solution combustion process. The uniformly distributed α-Fe2O3/carbon nanocomposite (α-Fe2O3/C nanocomposite) was prepared by incorporating carbon nanoplates into sphere-like α-Fe2O3 nanoparticles. The synthesized nanomaterials were characterized using various techniques such as XRD, FESEM, and EDS. The cytotoxicity of the material was evaluated by MTT assay and nuclear imaging based on the cell morphological changes on both human lung cancerous cell line A549 and chang liver as non cancerous cell line. The results demonstrated that the pure and composite material exhibited above 70% viability on non-cancerous cell line and around 60% inhibition on A549 lung cancer cell line indicates the α-Fe2O3/C nanocomposite is biocompatible and can be used for biological applications and anticancer therapy. Cell death induced by α-Fe2O3, carbon nanoplates and α-Fe2O3/C nanocomposites was further evidenced with DAPI.