In the present work, synthesis of pure and mixed Nickel-Cobalt spinel ferrite samples, Ni1-XCoXFe2O4 (x=0, 0.1, 0.3, 0.5), has been carried out with varying composition of Co as substituent. Solution combustion method has been employed for the synthesis of ferrites. For the combustion synthesis oxalic dihydrazide (ODH) was used as a fuel. Various techniques i.e. Fourier transform infrared spectroscopy (FT-IR), X-ray powder diffraction (XRD) and Mössbauer spectroscopy have been used to characterize ferrite samples. Magnetic studies have been carried out by using Vibrating sample magnetometer (VSM). Cobalt substituted ferrites show variation in magnetic properties than pure nickel ferrite. These variations could be explained using the magneto crystalline anisotropy constant, magnetic moment and cation distribution in ferrites. Combustion method leads to the formation of single phase spinel ferrites. Ferrites are also prepared at lower temperature and in shorter time.