Increased demands for multifunction, integration and miniaturization of electronic devices lead to the investigation of M-type hexaferrite with more abundant properties. In this paper, Ni-Zr co-doped barium ferrite (BaFe 12–2 x Ni x Zr x O 19 , 0 ≤ x ≤ 1 with step of 0.2) with concurrent of considerable saturation magnetization and dielectric properties are investigated by X-ray diffraction (XRD), scanning electron microscopy (SEM), energy dispersive X-ray spectroscopy (EDS), X-ray photoelectron spectroscopy (XPS), vibrating sample magnetometer (VSM) and LCR meter. Results reveal that pure M-type hexaferrite phase are obtained with expanded cell parameters by increasing Ni-Zr substitution content. The microstructure shows that Ni-Zr doping has small influence on the average grain size. Magnetic measurements indicate that a maximum saturation magnetization is obtained at x = 0.2 with considerable value of 71.5 emu/g. While the permittivity is substantially enhanced by Ni-Zr co-doping for barium hexaferrite with values reach up to ~10 3 at 100 kHz and dielectric tangent loss about 0.2. These results imply that Ni-Zr doped barium hexaferrites may have potential application in multifunctional and miniaturized electronic devices. • Considerable saturation magnetization with values of 50-71.5 emu/g are obtained for Ni-Zr co-doped BaFe 12 O 19 . • Enhanced dielectric constant up to 10 3 at high frequency with low dielectric tangent loss about 0.2 is obtained. • The mechanism for the influence of Ni-Zr doping on the magnetic and dielectric behaviors of BaFe 12 O 19 have been analyzed.