Optimizing the use of magnetite–chitosan composites for heavy metal adsorption has been of great interest due to their environmental friendliness. To gain insights into their potential with green synthesis, this study analyzed one of these composites through X-ray diffraction, Fourier-transform infrared spectroscopy and scanning electron microscopy. Adsorption properties were then explored via static experiments to evaluate the pH dependence, isotherms, kinetics, thermodynamics and regeneration adsorption of Cu(II) and Cd(II). Results disclosed that the optimum pH of adsorption was 5.0, the equilibrium time was about 10 min, and the capacity for Cu(II) and Cd(II) reached 26.28 and 18.67 mg/g, respectively. The adsorption amount of cations increased with temperature from 25 °C to 35 °C and decreased with further increase in temperature from 40 °C to 50 °C, which might be related to the unfolding of chitosan; the adsorption capacity was above 80% of the initial value after two regenerations and about 60% after five regenerations. The composite has a relatively rough outer surface, but its inner surface and porosity are not obvious; it has functional groups of magnetite and chitosan, and chitosan might dominate the adsorption. Consequently, this research proposes the value of maintaining green synthesis research to further optimize the composite system of heavy metal adsorption.