The microstructures and memory core characteristics of substituted lithium ferrites with addition of $Bi_2O_3$, $V_2O_5$, $Nb_2O_3$, and $P_2O_5$ were investigated. The effects of composite flux on the sintering of the substituted lithium ferrites were also studied. The results show that the addition of $Bi_2O_3$, $V_2O_5$, and $Nb_2O_5$ enhances sintering whereas $Sb_2O_3$ and $P_2O_5$ inhibits it, and that the addition of $Nb_2O_5$ results in uniform grain size while the addition of $Bi_2O_3$ or $V_2O_5$ results in non-uniformity in grain size. When $P_2O_5$ was added with $V_2O_5$ or $Bi_2O_3$, however, it results in uniform grain size and improved memory core properties.