An efficient fast hydrothermal method was used to synthesize Co1-xPdxFe2O4 (x = 0, 0.05, 0.1 and 0.5) nanocrystalline powders, where Co2+ was substituted with Pd2+ ions. The materials crystallize within the spinel structure (Fd-3m) with crystallites sizes varying between 5.6 and 17.6 nm. The particles present a cubic shape for x = 0 and x = 0.1 samples and the presence of Pd in samples was confirmed by Energy-dispersive X-Ray spectroscopy (EDX) analysis. The magnetic hysteresis loops indicate that the saturation magnetization decreases with the increase once with of the Pd2+ amount substitution (from ~52 emu/g for x = 0–~7 emu/g for x = 0.5).