This chapter aims at the latest amelioration in the biomedical application of spinel ferrites. Magnetic hyperthermia treatment of tumour cells and contrast resonance imaging of human body parts, are a few applications of spinel ferrites that have gained substantial interest nowadays. The thermo-therapeutic and radiology based diagnosis treatment has many benefits over traditional methods used for disease diagnosis and imaging treatment of chronic carcinogenic origin diseases. The various types of doped and undoped spinel ferrite nanoparticles are investigated and optimised for different biomedical applications. Through this chapter, an attempt is made to provide readers the knowledge about various required characteristics and latest used strategies for the successful implementations of spinel ferrite in biomedical applications at commercial levels.