Nanoparticles of Ni0.3Zn0.4Ca0.3Fe2O4 (NZCF) were successfully prepared by the facile wet chemical method coupled with the sonochemical method. These nanoparticles were embedded in a graphene oxide (GO) matrix (NZCFG). Rietveld analyses of X-ray diffraction, transmission electron microscope, scanning electron microscope, and X-ray photoelectron spectroscopy were carried out to extract different relevant information regarding the structure, morphology, and ionic state. A major improvement in saturation magnetization is achieved due to substitution of Ca2+ in the ferrite lattice. Interestingly, the observed value of electromagnetic absorption for a sample thickness of 1.5 mm is ∼-67.7 dB at 13.3 GHz, and the corresponding bandwidth is 5.73 GHz. The Cole-Cole plot, the Jonscher power-law fitting, and the Nyquist plot confirm the probability of improved hopping conductance and attractive capacitive behavior in NZCFG. The presence of magnetic energy morphing in combination with a higher attenuation constant, lower skin depth, and various forms of resonance and relaxation makes NZCFG the most suitable for microwave absorption.