 Superparamagnetic iron oxide nanoparticles, spheons, have found application in magnetic resonance imaging, MRI, magnetic hyperthermia, and advanced drug delivery systems due to their superparamagnetic properties, easy synthesis, biocompatibility, multifunctionality, and possibility of further surface modification. Despite some disadvantages such as high uptake by macrophages, ongoing studies suggest that spheons are very promising in oncological therapy, especially in brain, breast, prostate, and pancreatic tumors. The goal of this paper is to present the basic properties of spheons, discuss their current role in medicine, and review their applications to inspire future developments of new, improved SPON systems. This article was authored by Joanna Dylinska-Lajka, Agni Escalay-Zarchik, for Shemislah Alubiak, and others.