The synthesis of bioactive chromene derivatives is of great significance due to their diverse pharmacological properties. In this study, a novel magnetically recoverable nanocatalyst, Fe3O4-β-cyclodextrin-graphene oxide (Fe3O4-β-CD-GO), was developed and thoroughly characterized using techniques such as Scanning Electron Microscopy (SEM), Transmission Electron Microscopy (TEM), Fourier-Transform Infrared Spectroscopy (FT-IR), X-ray Diffraction (XRD), Thermogravimetric Analysis (TGA), and Vibrating Sample Magnetometer (VSM), confirming its successful fabrication, stability, and magnetic properties. This heterogeneous catalyst was employed for the efficient and green synthesis of 2-amino-3-cyano-4H-chromenes in aqueous media at 80 °C, showing excellent yields up to 95% within short reaction times (10–60 min). Optimization studies highlighted the superior performance of water as a solvent, with catalyst loading (0.7 mol%) and temperature significantly influencing reaction efficiency. The catalyst demonstrated remarkable recyclability, maintaining high activity over at least eight cycles, facilitated by easy magnetic separation. A plausible reaction mechanism was proposed, involving activation of electrophiles and nucleophiles via hydrogen bonding and acid–base interactions. The method proved versatile, accommodating various aldehyde substrates with different electronic properties, and scalable for larger-scale synthesis. These findings underscore the catalyst’s potential for sustainable, cost-effective, and efficient organic transformations, advancing green chemistry protocols in pharmaceutical and material synthesis.