This paper presents the direct current conductivity, alternate current conductivity and dielectric properties of nonstoichiometric magnesium-zinc ferrite below room temperature. The frequency exponent (s) of conductivity shows an anomalous temperature dependency. The magnitude of the temperature exponent (n) of dielectric permittivity strongly depends on frequency and its value decreases with increasing frequency. The grain boundary contribution is dominating over the grain contribution in conduction process and the temperature dependence of resistance due to grain and grain boundary contribution exhibits two activation regions. The ferrite shows positive alternating current magnetoconductivity. The solid state processing technique was used for the preparation of nanocrystalline ferrite powder from oxides of magnesium, zinc and iron. The X-ray diffraction methods were used in determining the structure and composition of obtained ferrite, while multimeter, impedance analyzer, liquid nitrogen cryostat and electromagnet were used in the study of conducting and dielectric properties of ferrite. (C) 2010 Elsevier Ltd. All rights reserved.