Y3+-doped cobalt ferrite nanoparticles, CoYxFe2-xO4 (x=0.00, 0.05, 0.10, 0.15), were synthesized using the sol-gel auto-combustion technique. Single-phase cubic spinel structure was confirmed by the X-ray diffraction technique. The lattice parameter increased with the increase of Y3+ content in the cobalt ferrite and varied from 8.3876 to 8.4271 Å. FE-SEM images showed that the samples had distinct crystalline nanoparticles of spherical shape with small agglomeration. EDAX results showed good agreement with the particularized composition. Magnetic measurement using a vibrating sample magnetometer (VSM) recorded a reduction in saturation magnetization (Ms) and coercivity (Hc) by Y3+ substitution. The values of Ms and Hc ranged from 66.61 to 17.52 emu/g and 1168.9 to 801.9 Oe, respectively. The electrical properties of Y3+-substituted cobalt ferrite were studied by measuring the dielectric constant and loss. With increasing frequency, the value of the dielectric constant decreased, as a natural behavior of the ferrite material.