Self-assembled epitaxial nanocomposite CoFe2O4:SrTiO3 and CoFe2O4:MgO thin films were grown on LaAlO3 substrates by a chemical solution approach of polymer-assisted deposition. X-ray diffraction and transmission electron microscopy analyses indicated that both phases in the composites were epitaxial with respect to the major axes of the substrate. Compared to the single-phase ferrimagnetic spinel CoFe2O4 films and the bilayer CoFe2O4/SrTiO3 and CoFe2O4/MgO films, the composite films exhibited reduced coercivity and enhanced magnetic anisotropy.