Magnetically nano-$CoFe_2O_4$ efficiently catalyzes oxidation of primary and secondary benzylic and aliphatic alcohols to give the corresponding carbonyl products in good yields. The reactions were carried out in an aqueous medium at room temperature in the presence of oxone (potassium hydrogen monopersulfate) as an oxidant. In addition, the catalysts could be reused up to 6 runs without significant loss of activities. Catalyst was characterized by SEM, XRD and IR.