The influence of the magnetic nanoparticles Fe3O4 and surfactant coated nanoparticles on the rate of alkaline hydrolysis of tetracaine were investigated spectrophotometrically. The Fe3O4 nanoparticles were synthesized by co-precipitation method. These synthesized nanoparticles were characterized by physical techniques. The XRD patterns showed the crystalline nature and the presence of two bands at 635 cm -1 and 585 cm -1 were assigned to the Fe-O bond vibrations in Fe3O4. The SEM and TEM studies confirmed the spherical structure of nanoparticles. The VSM studies show the magnetic nature. The reaction rate increased linearly with increase in [NaOH]. The rate constant values decreased with the increase in the SDS coated Fe3O4 nanoparticles from 4.0 × 10-4 s-1 to 1.1 × 10-4 s-1 in the presence of PEG 1500. Similarly, the increase in the amount of CTABr coated Fe3O4 nanoparticles decreased the rate constant values from 4.0 × 10-4 s-1 to 1.02 × 10-4 s-1 in the presence of PEG 1500. The binding constant and rate constant were found to be lower in SDS coated nanoparticles than the CTABr coated particles. The observed results for - [surfactant] in the presence of magnetic nanoparticles and surfactant coated nanoparticles were treated using the pseudophase kinetic model.