Experimental data and theoretical analysis of the process of formation of an epitaxial ferrospinel layer on the (001) plane of magnesium oxide depending on the composition are presented. It is demonstrated that the special features of nucleation and growth of ferrospinel films in the initial stage are determined by the concentration of point defects in the substrate, and after achievement of a certain critical size, by the character of interphase interaction at the film-substrate boundary and thermodynamic parameters of synthesis.