Lead free perovskite is the center of the present study due to its multifunctional properties. In the present work, pH (0-5) of the solution during the synthesis of La2CoFeO6 (LCFO) nanoparticles has been varied to study its impact on structural and magnetic properties. X-Ray diffraction pattern confirms the formation of LCFO nanoparticle with pH variation. Rietveld refinement of the X-Ray diffraction patterns indicates that the LCFO is formed in mixed phase of orthorhombic and rhombohedral structure. The percentage contribution of orthorhombic phase decreases with an increase in the pH value. Morphological studies show the increment in the particle size with pH value (from ~16 nm to ~32 nm). Structural and morphological investigations indicate that LCFO prepared at pH 0 are highly agglomerated and may have some amorphous phases. Magnetization curves indicate the ferromagnetic response for the LCFO nanoparticles at pH-0. The maximum magnetization (MS) is found to decrease whereas coercivity (HC) increases with the increase in pH value. This could be attributed to the structural changes incorporated and presence of anti-site disorder due to the variation of pH. A large exchange bias effect has also been noticed at 60 K for all the LCFO samples.