The communication describes prospects of ferrite with composition Co0.88 Cu0.12 Fe2 O4 suitable for magnetic hyperthermia. Samples were processed by sol-gel method using polyethylene glycol (PEG) as chelating agent keeping ferrite to PEG weight ratios of 1:1, 1:2, and 1:3. Mean particle sizes of annealed powders at 400 ℃ ranging from 7.1 nm to 5.4 nm were in good agreement with the estimated crystallite sizes from X-ray diffraction patterns using Williamson-Hall analysis. Based on the variation of saturation magnetization with annealing temperature, the optimum weight ratio of ferrite to PEG was found to be 1:2. The heating efficiency of nanoparticles fabricated with ferrite-PEG weight ratio 1:2 was demonstrated using the magnetic induction heating experiment. The values of specific absorption rate 54 W/g and 83.3 W/g for the nanoparticle concentrations, 10 mg/mL and 15 mg/mL reveal the ability of Co-Cu ferrite nanoparticles as a heating agent.