NiZnMgFe2O4 () with lower compositions of magnesium were synthesized by the sol-gel method and sintered at 1080C for 4 h. X-ray diffraction (XRD) patterns suggest the single phase nature of the spinel-type ferrite and increase in lattice parameter for increasing magnesium content. Surface morphology reveals that grain size increases with increasing magnesium concentration. Magnesium substitution in Ni-Zn ferrites showed influence on the interatomic distance for tetrahedral A sites and octahedral B sites calculated using the standard formula. Conductivity along with dielectric measurements gives additional information on the transport mechanism for magnesium substitution in Ni-Zn ferrites calculated at lower frequencies. Both magnetic loss and dielectric loss were investigated at lower frequency to understand the losses associated with domain wall contribution for magnesium-substituted Ni-Zn ferrites.