The Ni 0.8Co 0.1Cu 0.1Fe 2O 4 + PbZr 0.5Ti 0.5O 3 magnetoelectric (ME) composites were prepared by using standard ceramic method. The component phases of the composite were confirmed by XRD. It was observed that there was no diffusion of the component phases during sintering. The dc resistivity and thermoemf was studied as a function of temperature. The variation of ac conductivity with frequency shows that the electrical conduction in these composites is mainly due to electron hopping mechanism. The dielectric behaviour of these composites shows the electronic polarizability due to space charge carriers. The samples were poled electrically and the ME output (mV/cm) was measured with varying dc magnetic field. The static ME output with respect to dc magnetic field was also studied and it was found to be maximum for the case of 35% ferrite and 65% ferroelectric composite. The magnetoelectric properties of these composites depend upon the ferrite content, magnetostriction coefficient and resistivity of component phases.