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Ni_0.5Zn_0.5Fe₂O₄ nanoparticles were synthesized by thermal decomposition method. The influence of reaction conditions such as the amount of the surfactant, refluxing temperature and time on the size, morphology and dispersibility was investigated. The structure, morphology and magnetic properties of the samples were characterized by X-ray diffraction(XRD), transmission electron microscopy(TEM) and vibrating sample magnetometry(VSM). The results indicate that increasing the amount of the surfactant is beneficial to obtain samples with smaller particle size and better dispersibility, and the improving refluxing temperature and extending refluxing time is beneficial to obtain samples with larger particle size, but with wider size distribution. The saturation magnetization of the sample is determined to be 49.38A·m²/kg, coercivity is 7143.20A/m and remanent magnetization is 5.76A·m²/kg with ferrimagnetic behavior at room temperature when the reaction condition is determined as follows, the amount of TOPO is 0.6mmol, the refluxing temperature is 260℃ and the refluxing time is 1h.