The performance of a conventional metal oxide sensor (MOX) is highly dependent on its high operating temperature. Many researchers have tried to solve the problem by exploring hybrid materials. On the other hand, ternary hybrid materials have emerged as a promising class of materials with unique properties and potential applications in various fields, be it environmental or medical, such as in breath analyzers for prediabetes analysis. This article focuses on the synthesis method, characterization, and application of ternary hybrid materials for room-temperature sensors, as well as recent advances and future developments in the field. The materials consist of three different components, metal oxide (Fe3O4), polymer (polyaniline) and carbon-based materials (reduced graphene oxide), which were synthesized using in-situ methods. Five samples were prepared in different ratios. The properties of these materials were characterized using techniques such as X-ray diffraction (XRD), Raman, scanning electron microscope (SEM) and transmission electron microscopy (TEM). The XRD and Raman analyses showed the existence of all the individual constituents in the hybrid sample. SEM and TEM also showed a strong interaction between the constituent materials as a hybrid nanocomposite. The response and recovery time were studied against 1, 10 and 100 ppm acetone. The results show that the sample with 10 wtFe3O4-PANI-RGO (S210) has a reaction and recovery time < 32 s against the above ppm and has the highest sensing response at room temperature. © 2023 by the authors.