You can get this form by further oxidation

Fe2O3 has two Fe(III) and magnetite is a mixed Fe(III)2Fe(II) compound, hence oxidation is the wrong direction. but it can be prepared from Fe(II)-hydroxide.

You can do an additional reduction stage in H2 atmosphere ( for 2 h, at 350◦C).

alpha-Fe2O3 is the classical catalyst for high-temperature water gas shift reaction. At reaction conditions it is converted to magnetite (Fe3O4), which is the active state of the catayst. Treat hematite at above 350 C in typical WGS reaction medium (NOT in H2, it should be either H2+CO2+H2O in proportion of ca. 45:15:40 or H2+CO2 in proportion of smth like 1:2). This will give you magnetite. Simple treatment in hydrogen would give you a number of iron oxides.

Small correction - you can use even less of water and CO2 (but not pure hydrogen). For clarity, I place here the equilibrium Baur-Glassner diagram, which I scanned from the Dr. Ing. Thesis of B.E.Monsen (Uv Trondheim, 1992)

Dear Alexander A Khassin ,

Make sure to USE - ULF (ultra low frequency) , if it is water based one

Fe2O3 can be transformed into Fe3O4 by adding a small amount of Fe powder in its alkaline aqueous solution

Believe it or not, at least for achieving a surface coating of Fe3O4 on steel, you can turn Fe2O3 into Fe3O4 by boiling it in water. See this method demonstrated:

https://www.youtube.com/watch?v=xmv58Z3RZ9c

That's called "rust bluing". Boiling water drives the dissolved oxygen out of it. I'm not sure whether the water itself is involved in the conversion, or just heat in the absence of oxygen, but this apparently works. Rust bluing has been a long recognized method for giving gun parts a black, rust resistant finish. Even Wikipedia has an entry on it:

https://en.wikipedia.org/wiki/Bluing_(steel)#Rust_bluing