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The Zr and Co co-substituted Ni 0.5 Zn 0.5 Fe 2 O 4 have been synthesized by sol-gel auto combustion method. The XRD patterns provide single phase cubic spinel with ( ( )) space group and extra peaks found in XRD patterns from x = 0.24 to x = 0.4. The experimental lattice parameter is increased from 8.3995Å to 8.4129 Å and the theoretical lattice parameter is increased from 8.3948Å to 8.4130Å with increasing dopant concentration. The substitute ions in place of ferric ions cause the significant changes in all structural parameters. The D.C resistivity is increased from 126597 Ω-cm to 684229 Ω-cm and the drift mobility is decreased from 4.9×10 −36 cm 2 /V-s to 1.88× 10 −36 cm 2 /V-s with increasing dopant concentration. The activation energy is decreased from 0.2108 eV to 0.0905 eV with increasing doping concentration. The saturation magnetization is decreased from 71.1559 emu/gm to 28.2405 emu/gm and the net magnetic moment is decreased from 6.3556 Bhor magnetons to 2.5523 Bhor magnetons with increasing dopant concentration. The Y-K angles are increased from 20.0723̊ to 59.4274̊ with increasing dopant concentration. The anisotropy constant has increased from 100 to 351 with increasing dopant concentration. The permeability is decreased from 117 to 19.4524 with increasing dopant concentration.