The study of structural morphology and the optical properties of nanoparticles produced by combustion methods are gaining significance due to their multifold applications. In this regard, in the present work, the strontium-doped cobalt aluminate nanoparticles were synthesized by utilizing Co1−xSrxAl2O4 (0 ≤ x ≤ 0.5) L-Alanine as a fuel in an ignition cycle. Subsequently, several characterization studies viz., X-ray diffraction (XRD), energy-dispersive X-ray (EDX) analysis, high-resolution scanning electron microscopy (HRSEM), Fourier transform infrared spectroscopy (FTIR), ultraviolet (UV) spectroscopy and vibrating sample magnetometry (VSM) were accomplished to study the properties of the materials. The XRD analysis confirmed the cubic spinel structure, and the average crystallite size was found to be in the range of 14 to 20 nm using the Debye–Scherrer equation. High-resolution scanning electron microscopy was utilized to inspect the morphology of the Co1−xSrxAl2O4 (0 ≤ x ≤ 0.5) nanoparticles. Further, EDS studies were accomplished to determine the chemical composition. Kubelka–Munk’s approach was used to determine the band gap, and the values were found to be in the range of 3.18–3.32 eV. The energy spectra for the nanoparticles were in the range of 560–1100 cm−1, which is due to the spinel structure of Sr-doped CoAl2O4 nanoparticles. The behavior plots of magnetic induction (M) against the magnetic (H) loops depict the ferromagnetic behavior of the nanomaterials synthesized.