NiGdxFe2-xO4 nanoferrites combined with polyvinyl alcohol (PVA) and having a distinct spinel phase composition (x = 0.01, 0.03, 0.05, 0.07, and 0.09) were effectively created. Several characterization approaches were used to study the structural, dielectric, and magnetic properties of the PVA-blended nanoferrites. The acquired X-ray diffraction pattern showed the spinel cubic structure. Crystallite sizes of 50, 44, 40, 35, and 31 nm were found in PVA-blended nanoparticles for x = 0.01, 0.03, 0.05, 0.07, and 0.09, respectively. When compared to the PVA-unblended nanoferrites, the PVA-blended nanoferrites showed insulating properties with an enlarged energy bandgap. Real and complex dielectric constants, as well as the measured dielectric loss, were all in the microwave range (frequency ∼ 1.88–5.93 GHz). At higher frequencies, the dielectric constant became constant after declining with frequency. From the PVA-blended nanoferrites impedance study, pseudocapacitance (x = 0.01, 0.03, and 0.05) and resistive behavior (x = 0.07 and 0.09) were investigated. The magnetization hysteresis plot of PVA-blended NiGdxFe2-xO4 nanoferrites revealed a mild ferromagnetic character. The PVA doping of the produced nanoferrites increased their saturation magnetization and had a considerable microwave absorption capacity. For the broadest range of electromagnetic radiation absorption, ferrite might be the perfect material. The addition of rare-earth ions to these basic ferrites results in a considerable modification of the ferrites’ electromagnetic characteristics.