The development of a safe and efficient method for hydrogen storage is essential for the use of hydrogen with fuel cells for vehicular applications. Hollow glass microspheres (HGMs) have characteristics suitable for hydrogen storage and are expected to be a potential hydrogen carrier to be used for energy release applications. The HGMs with 10–100 μm diameters, 100–1000 Å pore width and 3–8 μm wall thicknesses are expected to be useful for hydrogen storage. In our research we have prepared HGMs from amber glass powder of particle size 63–75 μm using flame spheroidisation method. The HGMs samples with magnesium and iron loading were also prepared to improve the heat transfer property and thereby increase the hydrogen storage capacity of the product. The feed glass powder was impregnated with calculated amount of magnesium nitrate hexahydrate salt solution to get 0.2–3.0 wt% Mg loading on HGMs. Required amount of ferrous chloride tetrahydrate solution was mixed thoroughly with the glass feed powder to prepare 0.2–2 wt% Fe loaded HGMs. Characterizations of all the HGMs samples were done using FEG-SEM, ESEM and FTIR techniques. Adsorption of hydrogen on all the Fe and Mg loaded HGMs at 10 bar pressure was conducted at room temperature and at 200 °C, for 5 h. The hydrogen adsorption capacity of Fe loaded sample was about 0.56 and 0.21 weight percent for Fe loading 0.5 and 2.0 weight percentage respectively. The magnesium loaded samples showed an increase of hydrogen adsorption from 1.23 to 2.0 weight percentage when the magnesium loading percentage was increased from 0 to 2.0. When the magnesium loading on HGMs was increased beyond 2%, formation of nano-crystals of MgO and Mg was seen on the HGMs leading to pore closure and thereby reduction in hydrogen storage capacity.