Newly designed magnetic FeNi–Pt match-like heterostructured nanorods were synthesized by means of induced growth of FeNi nanorods on Pt nanotips. The proposed synthesis mechanism is corroborated by SEM, TEM, XRD and XPS. The magnetic behavior shows that the magnetic saturation and coercivity are strongly dependent on both the shape and the alloy composition. The saturation magnetizations (Ms) and the coercivity (Hc) of nanorods synthesized are larger than those of nanoparticles because of the relatively large anisotropy of nanorods. Maximum saturation magnetization is obtained for Fe82Ni15–Pt3 at 226.6 emu g−1, whereas maximum coercivity is obtained for Fe20Ni77–Pt3 at 136.8 Oe. Shape-dependent reactivity toward the reduction of chlorinated solvents was observed for the FeNi–Pt heterostructured nanomaterials. In particular, the Fe82Ni15–Pt3 nanorods are highly reactive in the dechlorination process of 1,1,2,2-tetrachloroethane.