W‐type hexaferrites with varied Co/Zn ratios were synthesized and the magnetic order was investigated using neutron powder diffraction. In SrCo2Fe16O27 and SrCoZnFe16O27 a planar (Cm′cm′) magnetic ordering was found, rather than the uniaxial ordering (P63/mm′c′) found in SrZn2Fe16O27 which is common in most W‐type hexaferrites. In all three studied samples, non‐collinear terms were present in the magnetic ordering. One of the non‐collinear terms is common to the planar ordering in SrCoZnFe16O27 and uniaxial ordering in SrZn2Fe16O27, which could be a sign of an imminent transition in the magnetic structure. The thermomagnetic measurements revealed magnetic transitions at 520 and 360 K for SrCo2Fe16O27 and SrCoZnFe16O27, and Curie temperatures of 780 and 680 K, respectively, while SrZn2Fe16O27 showed no transition but a Curie temperature at 590 K. This leads to the conclusion that the magnetic transition can be adjusted by fine‐tuning the Co/Zn stoichiometry in the sample.