X-ray absorption fine structure (EXAFS) and X-ray absorption near-edge structure (XANES) techniques at both Fe and Co K-edges were used to investigate the formation of CoFe 2 O 4 nanoparticles embedded in a silica aerogel matrix as a function of calcination temperature and CoFe 2 O 4 content. In particular, nanocomposite aerogels containing relative CoFe 2 O 4 amounts of 5 and 10 wt % and calcined at 450, 750, and 900°C were studied. The evolution of the nanophase with calcination temperatures depends on the composition. In the sample containing 10 wt % of nanophase, results indicate that CoFe 2 O 4 nanocrystals were formed after calcination at 750°C, whereas in the sample containing 5 wt % of nanophase, they were obtained only after calcination at 900°C. Quantitative determination of the distribution of the iron and cobalt phase in the octahedral and tetrahedral sites of the spinel structure shows that cobalt ferrite prepared by sol-gel has a partially inverted spinel structure with a degree of inversion around 0.70.