The purpose of this study Is to investigate the effect of $V_2$O$_{5}$ addition on the microstructures and magnetic properties of 7.7${ imes}$4.5${ imes}$1.0 mm sized multi-layer chip inductors prepared by the screen printing method using 0∼0.5 wt％ $V_2O_{5}$-doped NiCuZn ferrite pastes. With increasing the $V_2O_{5}$ content, the exaggerated grain growth of ferrite layers was developed due to the promotion of Ag diffusion and Cu segregation into the grain boundaries oi ferrites, which affected significantly the magnetic properties of the chip inductors. After sintering at $900^{circ}C$, the inductance at 10 MHZ of the 0.5 wt％ $V_2O_{5}$-doped chip inductor was 3.7 ${mu}$H less than 4.2 ${mu}$H of the 0.3 wt% $V_2O_{5}$-doped one, which was thought to be caused by the residual stress at the ferrite layers increased with the promotion of Ag diffusion and Cu segregation. The quality factor of the 0.5 wt% $V_2O_{5}$-doped chip inductor decreased with increasing the sintering temperature, which was considered to be caused by the electrical resistivity of the ferrite layer decreased with the promotion of Ag/cu segregation at the grain boundaries and the growth of the mean grain size of ferrite due to exaggerated grain growth of ferrite layers.