Mixed Mg-Cr Nano ferrites having the compositional formula MgCr x Fe 2−x O 4 (where x = 0.0, 0.1, 0.3, 0.5, 0.7, 0.9 and 1.0) were synthesized using Citrate-Gel auto combustion method. Structural characterization was carried out by XRD Analysis which confirmed the formation of single phase cubic spinel structure without any impurity peak. The dielectric properties such as Dielectric constant (ε'), Dielectric Loss tangent (tan δ) and AC conductivity (σ AC ) of Mg-Cr nano ferrites were studied at room temperature in the frequency range of 2 Hz -2 MHz using Agilent E4980A Precision LCR meter. The dielectric constant, loss tangent and AC conductivity shows a normal behavior with frequency. A qulitative explanation is given for composition and frequency dependance of the dielectric constant, dielectric loss tangent and AC conductivity of the nano ferrite. The loss tangent for the synthesized samples was found to be decreased from 0.09 to 0.054 in higher frequency region showing the potential applications of these materials in high frequency micro wave devices. On the basis of these results the explanation of dielectric mechanism in Mg-Cr ferrites is suggested.