We investigated the magneto-optical properties and application of diluted magnetic semiconductors Cd$_{1-x}$Mn$_x$Te crystals with various Mn contents grown using a vertical Bridgman method. This material crystallizes in the zinc-blende structure for values of x < 0.82. The band-gap energy was depended on Mn mole fraction x linearly and increased with decreasing temperature. The Faraday rotation was increased as the photon energy increased near to that of the fundamental band gap and its increased with increasing Mn mole fraction. Optical isolator using the Cd$_{0.62}$Mn$_{0.38}$Te crystal shows that the isolation and insertion loss are 45 dB and 0.35 dB at 650 nm, respectively.