Cu2+ substituted Mg – Zn nanoferrites is synthesized by low temperature fired sol gel auto combustion method. The spinel nature of nanoferrites was confirmed by lab x-ray technique. Williamson – Hall (W-H) analysis estimate the average crystallite size (22.25–29.19 ± 3 nm) and micro strain induced Mg0.5Zn0.5-xCuxFe2O4 (0.0 ≤ x ≤ 0.5). Raman scattering measurements confirm presence of four active phonon modes. Red shift is observed with enhanced Cu concentration. Dielectric parameters exhibit a non – monotonous dispersion with Cu concentration and interpreted with the support of hopping mechanism and Maxwell-Wagner type of interfacial polarization. The ac conductivity of nanoferrites increases with raising the frequency. Complex electrical modulus reveals a non – Debye type of dielectric relaxation present in nanoferrites. Reactive impedance (Z″) detected an anomalous behavior and is related with resonance effect. Complex impedance demonstrates one semicircle corresponding to the intergrain (grain boundary) resistance and also explains conducting nature of nanoferrites. For x = 0.2, a large semicircle is observed revealing the ohmic nature (minimum potential drop at electrode surface). Dielectric properties were improved for nanoferrites with x = 0.2 and is due to high dielectric constant, conductivity and minimum loss value (∼0.009) at 1 MHz.