Rare earth doped spinel nanoferrites are attaining importance as heterogeneous nanocatalysts for the degradation of organic effluents. Rare earth metal doping increases electrical, optical properties and surface to volume ratio of the bare sample. In this work, NiFe2O4 (NF) and Nd-NiFe2O4 (NF-1) was successfully synthesized via co-precipitation route. CNT based nanocomposite (NF-2) was prepared using ultra-sonication method. The prepared materials were analyzed via various physiochemical approaches. The degradation efficiency of these materials was analyzed for the degradation of Rhodamine B, methylene blue, and benzoic acid. NF-2 showed highest efficiency among all the prepared catalysts. It showed 83.87 %, 90.80 %, and 66.96 % degradation of Rhodamine B, methylene blue, and benzoic acid respectively. The reason for the superior activity of NF-2 is the existence of rare earth Nd ions and CNTs. The surface area of NF increases due to the presence of carbon nanotubes and enhanced surface area provides more active sites for the degradation reaction.