M-type hexagonal ferrite powders, Ba0.5Sr0.5CoxRuxFe(12-2x)O19 (x = 0.0, 0.2, 0.4, 0.6, 0.8, 1.0, 1.2) have been synthesized by conventional ceramic method. Magnetic properties have been investigated as a function of substitution of Co and Ru ions at applied external field of 10 kOe. XRD and SEM revealed hexagonal structure for these ferrites. The Co and Ru ions substitution cause increase in saturation magnetization and rapid decrease in magnetocrystalline anisotropy at lower substitution. The magnetic parameters variation has been explained by taking into account preferential site occupancy of sublattice sites by substituted ions. Curie temperature decreases with substitution due to weakening of superexchange interaction. The obtained hysteresis parameters suggest that the proposed materials cannot be used for recording applications. (c) 2007 Elsevier Ltd. All rights reserved.