Self-biased structure based on hexaferrite demonstrates potential for achieving planar miniaturization of microwave circulator. Appropriate magnetocrystalline anisotropy field Ha and high squareness ratio Mr/Ms are indispensable for hexaferrite to meet with specific operating frequency and reduce loss of circulator, respectively. Gd3+-Mg2+ co-substitution is introduced to adjust Ha of M-type hexaferrite Sr1-xGdxFe12-xMgxO19 (SrM, x= 0.00, 0.05, 0.10, 0.15, 0.20, 0.25) while maintaining valence equilibrium. A Mr/Ms as high as 0.88 is achieved through ceramic process combined with magnetic field orientation. The ferromagnetic resonance linewidth of 774 Oe is detected by perturbational method based on coplanar waveguide at 43 GHz. Finally, A self-biased circulator using slotted structure based on SrM is designed, showcasing effective circular transmission functionality at Ku band.