New Pd(Pt) catalysts have been fabricated by assembling multicomponents of Fe3O4 and CeO2/Pd(Pt) on the surface of reduced graphene oxide (RGO) nanosheets in layers. The as-obtained Pd(Pt) catalysts exhibit extremely high catalytic activity in the selective hydrogenation reaction of nitrobenzene. Owing to the presence of Fe3O4, the catalysts can be easily recycled from the catalytic system through magnetic separation. Their high activity, stability, and magnetic recyclability make the as-obtained hybrids very promising as catalysts in catalytic applications. Compared to other traditional multishell magnetic catalysts that were prepared by means of layer-by-layer technology, our process is much more facile and more easily controlled.