An effective accumulation of the photosensitive drugs in the target tissues is a vital prerequisite for obtaining the optimal photodynamic or photothermal treatment effects during the lung cancer treatment. In this study, porous Fe3O4 nanoparticles were used to efficiently load the near-infrared photosensitive drug indocyanine green (ICG) in the pores (denoted as Fe/ICG) by electrostatic adsorption. Subsequently, Fe/ICG was modified with hyaluronic acid (HA) to construct a novel target nanoprobe (denoted as Fe/ICG@HA). Fe/ICG@HA exhibited not only excellent ICG loading and stability but also a significant uptake by the lung cancer cells owing to the targeting characteristics. Meanwhile, the nanoprobe improved the efficiency of thermal conversion and generation of singlet oxygen, thereby resulting in an optimal photothermal/photodynamic therapy effect. Based on the in vivo experiments and T2-magnetic resonance (MR) imaging, the nanoprobe was confirmed to possess excellent tumor-targeting abilities. Furthermore, under 808 nm laser irradiation, a significant therapeutic effect was observed on the tumor growth in the animal models. The proposed treatment strategy may provide a functional pathway for the targeted combined photothermal/photodynamic lung cancer therapy.