Hydrogels are functional smart materials which can be tailored by modifying their chemical composition. Further functionalization can be achieved by incorporating magnetic particles into the gel matrix. In this study, a hydrogel with magnetite micro-particles is synthesized and characterized by rheological measurements. Inorganic clay is used as the crosslinking agent, which additionally prevents the sedimentation of the micro-particles during the synthesis of the gel. The mass fractions for the magnetite particles in the synthesized gels range from 10% to 60% in the initial state. Rheological measurements are performed in different degrees of swelling using temperature as a stimulus. The influence of a homogeneous magnetic field is analyzed by a step-wise activation and deactivation during dynamic mechanical analysis. For the evaluation of the magnetorheological effect in the steady states a procedure is developed, which takes occurring drift effects into account. Using the magnetic flux density, the particle volume fraction and the storage modulus as independent parameters, a general product approach is deployed for a regression analysis of the dataset. In the end, an empirical law for the magnetorheological effect in nanocomposite hydrogels can be found.