Bismuth ferrite, BiFeO3 (BFO), has garnered significant attention as a thoroughly studied multiferroic material with promising prospects for future spintronic applications, owing to its unique combination of magnetic and electric polarization within a single-phase structure. Frist principle calculations were performed to examine the spin-polarized electronic and magnetic characteristics of BFO in the hexagonal phase, both in its pure state and when doped with lanthanum (La) at A-site and cobalt (Co) at B-site for magnetic switching parameters of spintronic RAM. The inclusion of La and Co atoms leads to alterations in spin polarization in both the spin-up and spin-down channels, resulting in an observed upsurge in the density of energy states (DOS). The observed changes in DOS across both spin channels have a pronounced effect on the magnetic moment. Introducing Co atoms into BFO, both individually and in combination with La, results in an enhancement of the magnetic moment. In the La-Co co-doped substitutional system, a significant volume magnetization of 1.26 (MA/cm) and a linear magneto-electric coupling coefficient of 2.63 ×10− 7 (sec m− 1) have been documented. Particularly, for data transmission within a nano-magnet of a spintronic device, Co-doped BFO demonstrates an exceptionally robust magnetic force of 0.05 T.