Magnetic hyperthermia has been arising as a promising approach for treatment of cancer. When magnetic nanoparticles (MNPs) are locally injected through cancerous tissues and subjected to an appropriate alternating magnetic field, they generate heat due to the rotation of the nanomagnets, causing the destruction of the cancer cells. For repeated applications of magnetic hyperthermia, it is highly preferred to keep the temperature constant at about 41-46 degrees C while preventing the leakage of MNPs, to minimize secondary effects on surrounding healthy tissues. In our study, we produced novel nanowebs provided with magnetic and thermal buffering properties by encapsulating MNPs and Lauric Acid in poly(methyl ethyl acrylate) matrix via uniaxial electrospinning. For the oleic acid functionalized magnetic nanoparticles, the magnetization for the corresponding nanowebs is higher by a factor of two for all concentrations than the ones with non-functionalized magnetic nanoparticles, indicating a more effective integration of the functionalized nanoparticles through the nanoweb. The heat absorption and release capacities of the nanowebs, incorporated with 1.25-2.50 % functionalized MNPs, vary between 70-75 Jg(-1) at 40-48 degrees C. They also demonstrate thermal cycling ability and thermal stability.