The influence of Bi-doping on the magnetic and Mössbauer properties of cobalt ferrite (CoFeO), wherein the Fe ions are replaced by the Bi ions to form CoBiFeO ferrites, where x = 0.0, 0.05, 0.1, 0.15 or 0.2, has been investigated. The structural and morphological properties of undoped and doped ferrites, synthesized chemically through a self-igniting sol-gel method, are initially screened using X-ray diffraction, scanning electron microscopy and Fourier transform infrared spectroscopy measurements. The changes in magnetic moment of ions, their coupling with neighboring ions and cation exchange interactions are confirmed from the Mössbauer spectroscopy analysis. The effect of Bi-doping on the magnetic properties of CoFeO ferrite is examined from the vibrating sample magnetometry spectra. Saturation magnetization and coercivity values are increased initially and then decreased, as result of Bi-doping. The obtained results with improved saturation magnetization (from 26.36 to 44.96 emu g), coercivity (from 1457 to 1863 Oe) and remanence magnetization (from 14.48 to 24.63 emu g) on 0.1-0.15 mol Bi-doping of CoBiFeO demonstrate the usefulness for magnetic recording and memory devices.