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A novel magnetoelectric effect is found to appear in a C 60 ‐Co nanocomposite. Although Co is well‐known as a ferromagnet, its nanoparticles embedded in a C 60  matrix can exhibit multiferroic‐like behavior, i.e., an electric field controls magnetic alignment of the nanoparticles and a magnetic field controls their charged states. This novel effect enables a strong magnetic switching effect for which the on/off ratio is ca. 10 4 . Such an effect has been expected to exist and these findings show this magnetoelectric coupling for the first time.

Observation of Magnetic‐Switching and Multiferroic‐Like Behavior of Co Nanoparticles in a C 60 Matrix