Objectives:The purpose of this study is to report the changes in structural, electrical, optical, and magnetic properties of N: CdS nanoparticles with Co 2+ doping, which have applications in the fields of opto-magnetic and spintronic devices. Methods: Nitrogen and cobalt-co-doped CdS nanoparticles (NPs) have been prepared using the surfactant-assisted chemical co-precipitate method. Findings: The X-Ray Diffraction (XRD) studies with X'pert High Score Plus software confirm the existence of multiphase and the size of the as prepared particles in the nanorange (1-2 nm). UV-VIS. absorption spectral analysis showed a considerable blue shift with the inclusion of nitrogen and a further Burstein-mass effect, i.e., a red shift with increasing Co 2+ ion concentration. The strong green light emissions observed in photoluminescence (PL) studies are attributed to the trapping of Co 2+ and N 3ions in F-centers. The characteristic g = 1.995 obtained from electron paramagnetic resonance (EPR) studies confirms the inclusion of nitrogen in the tetrahedral sites of the CdS core and the increased stability of nanoparticles. The vibrating sample magnetometer (VSM) studies revealed novel magnetic behaviour of nanoparticles at low fields. Novelty: Tunable band gap variations, ferromagnetic nature at low fields are the unique features observed in NPs with useful applications in the fields of opto-magnetic and spintronic applications. Nitrogen and cobalt-co-doped CdS nanoparticles (NPs) have been prepared using the surfactant assisted chemical co-precipitate method. The X-ray diffraction (XRD) studies with X'pert high score plus software confirm the existence of multiple phases and the size of the as prepared particles in the nanorange (1-2nm). UV-VIS absorption spectral analysis showed a considerable blue shift with the inclusion of nitrogen and a further Burstein-mass effect, i.e., a red shift with increasing Co 2+ ion concentration. The strong green light emission observed in photoluminescence (PL) studies is attributed to the trapping of Co 2+ , N 3ions in F-centers. The characteristic g = 1.995 obtained from electron paramagnetic resonance (EPR) studies confirms the inclusion of nitrogen in the tetrahedral sites of the CdS core and the increased stability of nanoparticles. The vibrating sample magnetometer (VSM) studies revealed novel magnetic behaviour of nanoparticles at low fields.