Hexaferrites are composed of irons and many other divalent metal ions in various atomic ratios. They are classified as M, W, X, Y, Z, and U type according to the crystalline structure. They are also used as ferromagnetic compounds. These materials have been utilized as the permanent magnets, magnetic recording media and microwave absorbers due to their superior properties. These materials also have wide application in ferrofluids, sensors, loudspeakers, electric power generation, rotors in small direct current (DC) motors, automotive electronics, ferrite cores, fabrication of inductors, micro electro mechanical systems (MEMS), capacitors, transistors, microwave, and in magneto static and electromagnetic devices. BaFe12O19 has gain focus in recent years due to its large coercivity, high magneto crystalline anisotropy, relatively large saturation magnetization, electrical resistivity, low cost, and ability to resist corrosion. The Present chapter will focus on the effect of substitution on the dielectric and magnetic properties BaFe12O19. Morphology and properties of barium hexaferrites, effect of Co-Ti substitution on magnetic properties of nanocrystalline BaFe12O19 and effect of rare-earth materials substitution on the micro structural and magnetic properties of BaFe12O19 are covered.