This study investigates the physical, magnetic, dielectric, and switching field distribution behavior of chemically synthesized N0.5Mg0.5Fe2−yPryO4 ( \(\text{y}=0.0, 0.1, 0.2, 0.3, 0.4\) ) spinel ferrites (SFs) by self-ignition route. The structural analysis reveals a range of lattice constants influenced by Pr3+ substitution, which also impacts crystallite size and densification. Tetrahedral and octahedral absorption bands associated with metal–oxygen bonds, metal–oxygen-metal bonds, and lattice vibrations were identified using FTIR spectra. The presence of five Raman peaks corresponding to pure Ni–Mg and Pr3+ doped Ni–Mg SFs vibration modes were identified in Raman spectra. The particle size was reduced with the addition of Pr3+ ions in Ni–Mg SFs. Magnetic measurements indicate a decrease in saturation magnetization (MS) and an increase in coercivity (HC) with doping of Pr3+ content. The tangent loss, dielectric constant, and loss of Pr3+ doped Ni–Mg SFs change with changing frequency and Pr3+ doping. The magnetic, and dielectric properties exhibit significant changes, highlighting the potential for tunable magnetic, and dielectric response under different concentrations of Pr3+. The switching field distribution analysis shows a variation in magnetic reversal processes, correlated with the Pr3+ concentration. These findings suggest that Pr3+ doped Ni–Mg SFs are favorable candidates for high-frequency applications.