A novel magnetic separable composite photocatalytic nanofiber consisting of TiO2 as the major phase, CeO2-y and CoFe2O4 as the dopant phase was prepared by sol gel method and electrospinning technique, and characterized by X-ray diffraction (XRD), scanning electron microscopy (SEM), transmission electron microscopy (TEM), UV-vis diffuse reflectance spectrum (UV-vis DRS) and vibrating sample magnetometer (VSM). The photocatalytic activity of the resultant CoFe2O4-TiO2 and CeO2-y/CoFe2O4-TiO2 nanofibers was evaluated by photodegradation of methylene blue (MB) in an aqueous solution under xenon lamp (the irradiation spectrum energy distribution is similar to sunlight) irradiation in a photochemical reactor. The results showed that the dopant of Ce could affect the absorbance ability and photo-response range. The sample containing 1.0 wt% CeO2-y exhibited the highest degradation with 35% for MB under simulate solar light irradiation. Furthermore, the as-synthesized composite photocatalytic nanofibers could be separated easily by an external magnetic field, thus it might hold potential for application in wastewater treatment.