Nanosized Zn 0.6 Cu 0.4 Cr 0.5 La 0.04 Fe 1.46 O 4 ferrites were prepared by a rheological phase reaction method. Zn 0.6 Cu 0.4 Cr 0.5 La 0.04 Fe 1.46 O 4 /polypyrrole composites were prepared by in situ inverse microemulsion polymerization method. The structure, morphology, conductive and ferromagnetic property of ferrite powders and composites were characterized by powder X-ray diffractometer (XRD), transmission electron microscope (TEM), Fourier transform infrared (FTIR) spectra, four-probe instrument, and vibrating sample magnetometer (VSM). It was demonstrated that there was some interaction between the ferrite particles and PPy chains in the Zn 0.6 Cu 0.4 Cr 0.5 La 0.04 Fe 1.46 O 4 /PPy composites. The TEM showed that composites presented core-shell structure with a magnetic core of ferrite and an amorphous shell of PPy. The conductive magnetic properties of composites depended on the ferrite content. As the ferrite content increased from 10% to 30%, the conductivity decreased from 0.0423 to 0.0139S/cm, while the saturation magnetization increased from 4.0 to 9.1emu/g, and coercivity from 101.6 to 133.5Oe, respectively. The bonding model for the composites was also studied.