With the rapid development of modern industry, oil spills and oily industrial wastewater have caused serious environmental problems. Thus, mitigation strategies for this pollution must be developed to alleviate worldwide concerns. A promising mitigation strategy involves the use of high strength magnetically controlled superhydrophilic/oleophobic sponges prepared using melamine sponge, polyurethane, monolayer graphene, and Fe3O4 as basic materials. Scanning electron microscopy was used to characterize the surface morphology and roughness of this newly developed sponge. Changes in wettability and the mechanisms underlying these changes were investigated by contact angle measurements. The quantity of water absorbed by the prepared sponge in oily wastewater was 80.8 times the mass of the sponge, indicating good adsorption properties and the ability to treat oily wastewater. The experimental investigation of the mechanical properties showed that the elastic coefficient of the sponge was 1000 N/m, five times higher than that of the original sponge. The method developed herein overcomes the shortcomings of traditional oil-water separation materials, including low absorption efficiency and interference from oil, which can block adsorption sites. Therefore, the material developed herein has immense potential in industrial oil purification and oil spill purification.