Cobalt ferrite has attracted much attention owing to its excellent properties and huge technological applications. The novel synthesis methods such as co-precipitation method, solid state method, sol-gel method, auto combustion method, precursor technique, hydrothermal technique, spray pyrolysis technique etc. have been used for its preparation. Along with numerous outstanding properties of cobalt ferrite several chemical modifications like modifying reaction conditions, substituting one or more ions with other metal ions enhanced the configuration of grains of cobalt ferrite. With all the factors the role of dopant in chemical composition is extreme important because it modifies the structural, electrical, magnetic and catalytic properties of cobalt ferrite. In this review, we summarize the synthesis and properties of cobalt ferrites with significant developments. The applications of cobalt ferrite in several fields are also highlighted in this review.