The composites based on Ni-Cr layered double hydroxides decorated with Fe2O3 obtained through underwater pulsed plasma without the use of chemical precursors, were evaluated using X-ray diffraction (XRD), X-ray photoelectron spectroscopy (XPS), scanning electron microscopy (SEM), thermogravimetric analysis (TG), and vibrating sample magnetometry (VSM). In this process, the electrode materials (Fe and NiCr wires) serve as precursors for the resulting composite. XRD, XPS, and energy-dispersive spectroscopy (EDS) data indicated that Ni-Cr layered double hydroxides with iron oxide impurities are formed under underwater plasma conditions. Thermal studies demonstrated that the resulting composites exhibit thermal stability. The content of iron oxides within the composite influences their magnetic properties. The kinetic sorption of tetracycline from aqueous solution as well as its release showed that the obtained composites can be used as efficient adsorbents for the environmental applications. The presence of magnetic particles (Fe2O3) facilitates the easy removal of the sorbent.