The spinel-type ferrites are important due to their technological and industrial applications. Among magnetic ferrites with formula XFe2O4 (where X= Co, Ni etc.), magnesium ferrite with unique magnetic properties has a significant advantage. This ferrite is a soft magnetic, n-type semiconductor and has many applications in catalysis, brown pigments, high-density recording, gas sensors, transformers, magnet core and ferrofluids. In this work MgFe2O4 thin films are prepared using Sol-Gel method. The Mg/Fe ratio is varied as 0.45, 0.55 and 0.6. The presence of (220), (400), (331) and (533) peaks confirm the formation of MgFe2O4 at low synthesis temperature of 300˚C. It can be seen that variation in Mg/Fe ratio strongly affects the magnetic properties of magnesium iron oxide thin films.