Many researchers are interested in investigating ceramic materials because of the potential for their use in nanotechnology. Spinel ferrites are a diverse group of materials with many applications. Electronic devices such as inductors, power, information storage, microwave, and induction tuners are only a few examples. As ferrite materials exhibit super-paramagnetic activity, their potential for biological applications such as drug delivery, hyperthermia, and resonance magnetic imaging. As a result, super-paramagnetism is a highly desirable property in spinel ferrites. Due to the size dependence, the methodologies used to synthesis of these materials have emerged as a critical step in achieving the desired properties. Many synthesis strategies have been developed in this regard such as sol-gel, co-precipitation, solid-state, solution combustion method and so on. As a result, this study provides a historical overview of spinel ferrites, as well as key principles for comprehending their various characterization techniques and properties. Recent developments in the synthesis and applications of spinel ferrites are also discussed.