The magnetoelectric (ME) laminate structures of CoFe1.88Dy0.12O4 (CFDO, Ferrite) and K0.50Na0.50NbO3 (KNN, ferroelectric/piezoelectric) phases were fabricated by silver epoxy bonding technique and tested the ME response in longitudinal and transverse mode. The CFDO reveals the cubic spinel structure while KNN reveals the perovskite orthorhombic crystal structures having dense microstructure. The CFDO confirms the phase segregation of the DyFeO3ortho-ferrite phase, while the KNN lead-free ceramic showed the Curie temperature of 416 °C, 13µC/cm2 maximum polarization, 25,296 × 10-15 m2/N figure of merit, piezoelectric charge coefficient d33 of 47 pC/N. The longitudinal (α33) and transverse (α31) dynamic magnetoelectric response is studied to figure out the effective magnetic field direction to get better values of magnetoelectric voltage sensitivity i.e. αME. Both modes revealed the hysteretic behavior i.e. lagging of ME voltage response to an applied magnetic field which evidences a true multiferroic character of CFDO/KNN laminates. Remarkably, the (CFDO /KNN/ CFDO) structure demonstrated a substantial magnetoelectric coefficient in LT (α31) mode of approximately 38.5 mV/cm·Oe at a magnetic field of 400 Oe and −37.55 mV/cm·Oe at a magnetic field of −400 Oe. Thus, here we present the magnetoelectric laminate structure of CFDO /KNN/ CFDO phases beneficial for magnetic field sensors.