Spintronics is a rapidly developing field in advanced technology. It focuses on manipulating the spin of electrons to achieve high-speed data transfer, handling, and storage in order to enhance its capabilities. We conducted a systematic investigation of the ferromagnetism, electronic, and thermoelectric characteristics of spinel compounds LiFe2(O/S)4. Our analysis for optimization demonstrates that ferromagnetic states exhibit great energy release compared to the antiferromagnetic states, indicating the presence of ferromagnetic behavior in the studied compounds. To evaluate the presence of ferromagnetism above room temperature, we employ the Heisenberg model to calculate the Curie temperature and spin polarization to evaluate the presence of ferromagnetism above room temperature. Additionally, a concise overview of the nature of ferromagnetism, including band structures, density of states, exchange energies and constants, hybridization double exchange model, and crystal-field energy, is provided in this research. The absorption of a shift in magnetic moment from Fe to the Li and O/S sites suggests that the ferromagnetic behavior is primarily due to the spin of electrons. Furthermore, we explore the impact of the thermal parameters on the electro-spin as well as the thermoelectric characteristics for both spin-down and spin-up states, providing insights into the energy-harvesting potential.