This chapter summarizes the effect of monovalent, divalent, trivalent, and tetravalent elements substitution on the electric and magnetic properties of spinel ferrites. Due to the doping of different cations, drastic changes take place in the properties of spinel structure. The spinel structure of the ferrite possesses insulating properties at room temperature and magnetic due to the presence of iron in the material. As well as the preparation method plays a crucial role to vary the physical properties of ferrite, in the result, possibility to use these spinel ferrite materials in a variety of applications. By changing the synthesis route of the magnetic ferrite specimens, can be utilized as superparamagnetic materials for specific biomedical applications. The temperature can affect the electrical properties as more than one valence state of the ions in the interstitial sites of ferrite by hopping mechanism. The various dopants modify the exchange interaction, spin canting, cation distribution, Curie temperature, saturation magnetization, nuclear hyperfine field, ac resistivity, dc resistivity, and many other properties of spinel ferrite materials.