<p>In the present investigation, we report the impact of Praseodymium (Pr³⁺) substitution on structural, electrical and magnetic properties of nanosized Mg_1−xZn_xPr_yFe_2−yO₄ (0 ≤ <i>x</i> ≤ 1.0 in steps of 0.2; <i>y</i> = 0.0, 0.1) ferrites prepared by novel solution combustion method. X-ray diffraction (XRD) patterns analysis confirmed the single-phase cubic structure of synthesized nanoferrites. The lattice parameter increased from 0.82344 to 0.84420&#xa0;nm with increase in Zn²⁺ ion content. The average crystallite sizes were in the range of 22.144–44.24&#xa0;nm. Two prominent absorption bands in the infrared spectra lies in wavenumber range 526–518&#xa0;cm⁻¹ and 440–434&#xa0;cm⁻¹ assigned due to stretched vibrations were designate the tetrahedral sites and octahedral sites, respectively.&#xa0;SEM micrographs explore the grain sizes in the range 82.86–183.5&#xa0;nm. Furthermore, the DC conductivity studies by two probe method from 300 to 800&#xa0;K explore that critical temperature decreases with increasing temperature. Further, VSM studies revealed the soft ferrimagnetic nature of nanoferrites by narrow (M–H) curve. The saturation magnetization (Ms) and the remanent magnetization (Mr)&#xa0;attain the maximum value and thereby decreased with increasing Zn²⁺ content. On substitution of Pr³⁺ content, the lattice parameter and crystallite size greater than undoped sample. Further, the conductivity and activation energy decreased. Importantly, the values of Ms, Mr enhanced while Hc were decreased in Pr³⁺ ions substituted samples. These parameters suggested that the synthesized samples are suitable materials for high density magnetic recording.</p>