An atom-efficient, eco-friendly, solvent-free, high yielding, multicomponent green strategy to synthesize highly functionalized quinazoline derivatives by the one-pot reaction of 2-aminobenzophenone, aromatic aldehyde and ammonium acetate is presented. Magnetic IL, butylmethylimidazolium tetrachloroferrate (bmim[FeCl₄]) has been used successfully as a catalyst in a multicomponent synthetic strategy for the first time. The catalytic cycle and a tentative reaction mechanism were discussed and experimentally verified. Structural and optical properties of the synthesized quinazolines are also described.