The magnetic properties of the U-type ferrite synthesized by a sol-gel process had studied by substituting cobalt with manganese or zinc in cobalt-based U-type ferrite. The substituted U-type ferrite showed a dominant crystal structure at a different substitution ratio of manganese and zinc. The change of the starting temperature of U-type ferrite formation according to substitutional elements was confirmed by TG-DTA analysis. In the case of manganese substitution, the starting temperature of U-type ferrite formation lowered, and on the contrary, when zinc was substituted, it became higher. The magnetic properties of the U-type ferrite substituted with manganese showed a tendency that the saturation magnetization was decreased and the coercivity was increased as the manganese ratio increased. The highest saturation magnetization was 57.9 emu/g in the specific composition (Ba4Co0.5Zn1.5Fe36O60) substituted with zinc.