Polycrystalline nickel manganite was prepared by a simple sol–gel method from an aqueous solution of metal chlorides containing sorbitol as a chelating agent. X-ray diffraction and Rietveld refinement show a spinel-type crystalline structure, space group Fd3¯m, and a minor (~3%) phase of rock salt structure assigned to NiO. XPS measurement shows a typical manganite electronic structure with Mn in the oxidation states Mn2+, Mn3+, and Mn4+. The zero-field-cooled and field-cooled magnetization curves measured under low magnetic fields display irreversibility and an asymmetric hysteresis evidencing some exchange bias. Field dependent DC susceptibility above Curie temperature put into evidence a competition of short ranged ferro and antiferromagnetic interactions. AC in-phase susceptibility shows a frequency independent sharp peak at the ferromagnetic phase transition (97 K) and a broad maximum at lower temperature. These maxima show a weak frequency dependence in the out-phase component. Cole–Cole plot reveals at least two magnetic relaxation processes.