The systematic variation of complex permeability and complex permittivity and their relationship with micro-wave absorbing properties are investigated in sintered Ni-Zn ferrites of non-stoichiometric composition. The specirrens of ${(Ni_{0.5}Zn_{0.5}O)}_{1-x}(Fe_{2}O_{3})_{1+x}$ spinels were prepared by a conventional ceramic processing technique. In the present study. complex permeability and permittivity can be controlled by the variation of ${alpha}-Fe_{2}O_{3}$ contents in the spinel lattice. The primary effect of the excess ${alpha}-Fe_{2}O_{3}$ is to increase the dielectric constant. while the notable decrease of magnetic loss is observed in the iron-deficient ferrites. The results suggest that the matching fre-queocyand matching thickness could be controlled by the variation of ${alpha}-Fe_{2}O_{3}$ contents in the Ni-Zn ferrite.