Jabon (Anthocephalus cadamba) is a fast-growing wood with low quality due to its low density and strength. The quality can be increased by modifying the wood through impregnation with various chemical compounds. In this study, jabon was impregnated with a solution of Fe and immersed in a strong base (NaOH) or a weak base (NH4OH) to form magnetite (Fe3O4) in-situ. This study analysed the use of NaOH and NH4OH in synthesising magnetic jabon wood and evaluated the wood’s characteristics. The impregnation process began with a vacuum of −0.5 bar for 0.5 h and then a pressure of 1 bar for 2 h. The samples subsequently underwent assessment of their dimensional stability, density, and characteristics. The results showed that impregnation with Fe solution followed by NaOH or NH4OH significantly affected the density and dimensional stability of the wood. The polymer weight gain was higher with NaOH, while the anti-swelling efficiency was higher with NH4OH. The density and bulking effect were increased, but the water uptake was decreased. Fourier transform infrared analysis showed the successful synthesis of magnetite. Scanning electron microscopy–energy-dispersive X-ray spectroscopy analysis revealed that magnetite covered the vessel fibre cell walls, and vibrating sample magnetometry analysis showed significant magnetic properties of the wood.