Cobalt–zinc ferrite nanoparticles (NPs) substituted with three different metals, Co0.5Zn0.5RexFe2-xO4 (RE = Ce, Dy, and Y; 0.00 ≤ x ≤ 0.05) were prepared hydrothermally. Fourier Transform-Infrared (FT-IR) Spectroscopy, X-ray powder diffraction (XRD), Field-Emission Scanning Electron Microscope (FESEM) coupled with energy-dispersive X-ray spectroscopy (EDX) and Vibrating Sample Magnetometry (VSM) analyzed the products. The formation of cubic phase of spinel Co-Zn ferrite NPs were confirmed through XRD, FT-IR and FE-SEM techniques. The structural investigation of NPs by XRD revealed that the lattice parameter “a” decreases with the introduction of the RE in the ferrite structure by the substitution of Fe3+ by RE ions. The different magnetic parameters of Co0.5Zn0.5RexFe2-xO4 (RE = Ce, Dy, and Y; 0.00 ≤ x ≤ 0.05) NPs such as the saturation magnetization, coercivity, remanence, and magnetic moment were calculated and discussed in relation to structure and microstructure properties. M (H) hysteresis curves indicated that the samples exhibit superparamagnetic nature at room temperature. A slight improvement in the magnetization was obtained especially for the Ce- and Y-substituted Co0.5Zn0.5Fe2O4 (CZF) NPs at a certain RE level. However, the case Dy-substituted CZF products showed a sharp decrease in the magnetization with x > 0.01. The results are mostly ascribed to the substitution of smaller Fe3+ ions with larger RE3+ ions.