Abstract: This study investigates the effect of graphene oxide (GO) on the mechanical and corrosion behavior, antibacterial performance, and cell response of Mg–Zn–Mn (MZM) nanocomposite. MZM/GO nanocomposites with different amounts of GO (i.e., 0.5wt%, 1.0wt%, and 1.5wt%) were fabricated by the semi-powder metallurgy method. The influence of GO on the MZM nanocomposite was analyzed through the hardness, compressive, corrosion, antibacterial, and cytotoxicity tests. The experimental results showed that, with the increase in the amount of GO (0.5wt% and 1.5wt%), the hardness value, compressive strength, and antibacterial performance of the MZM nanocomposite increased, whereas the cell viability and osteogenesis level decreased after the addition of 1.5wt% GO. Moreover, the electrochemical examination results showed that the corrosion behavior of the MZM alloy was significantly enhanced after encapsulation in 0.5wt% GO. In summary, MZM nanocomposites reinforced with GO can be used for implant applications because of their antibacterial performance and mechanical property.