BaCo 2−x Mn x Fe 16−2y (Zr–Cd) y O 27 (x=0–0.5 and y=0–1.0) hexaferrite nanocrystallites of average sizes in the range of 33–42nm are synthesized by the chemical co-precipitation method. The synthesized materials are characterized using different techniques including X-ray diffraction (XRD), energy dispersive X-ray florescence (ED-XRF), scanning electron microscope (SEM), Mössbauer spectrometer and vibrating-sample magnetometer (VSM). Based on analysis of the data obtained from Mössbauer spectral studies, doping is believed to have occurred preferably in the vicinity of 12k sub-lattice, i.e. f IV (4e, 4f IV ), 2b (6g, 4f) and 2d site. Variations in the saturation magnetization (77.1–60.9emug −1 ), remanent magnetization (22.08–31.23emug −1 ) and coercivity (1570.1–674.7Oe) exhibit tunable behavior with dopant content and therefore can be useful for application in various magnetic devices.