A new three-component inorganic ion exchanger, zirconium(IV) sulphosalicylophosphate(ZSP) has been synthesized under varying conditions. Sample ZSP(5) was chosen for detailed ion exchange studies owing to its highest ion exchange capacity, good appearance and chemical stability. ZSP(5) has been characterized on the basis of chemical analysis, pH titration, FTIR, TGA and X-ray analysis. The distribution coefficients (K-d) of 16 metal ions were determined in different pH systems, demineralized water and 0.1 M NH4NO3 Solution. On the basis of difference in distribution coefficients (Kd) some analytically important separations of metal ions have been achieved. A highly significant factor, KdAl(3+)/KdMg2+ has been utilized for the separation in their, synthetic mixtures and antacid formulations.