In this study, the properties of blue inorganic nano-pigments with a spinel structure were systematically investigated. We report the preparation of a blue ceramic nano-pigment and the Co and Ni substitutional effects on the blue color. $MgAl_2O_4$ was selected as the crystalline host network for the synthesis of cobalt and nickel-based blue ceramic nano-pigments. Various compositions of $Co_xMg_{1-x}Al_2O_4$ and $Ni_xMg_{1-x}Al_2O_4$ ($0{leq}x{leq}1$) powders were prepared using apolymerized complex method. The obtained powder was preheated at $400^{circ}C$ for 5 h and then calcined at $1000^{circ}C$ for 5 h. XRD patterns of the (Co,Mg)$Al_2O_4$ and (Ni,Mg)$Al_2O_4$ samples showed a single phase of the spinel structure in all compositions. TEM results indicated nano-sized pigments for (Co,Mg)$Al_2O_4$ and (Ni,Mg)$Al_2O_4$ with a particle size ranging from 20 to 50 nm. The characteristics of the color tones of (Co,Mg)$Al_2O_4$ and (Ni,Mg)$Al_2O_4$ were analyzed by CIE $L^*a^*b^*$ measurements. In addition, the thermal stability and the binding characteristics of (Co,Mg)$Al_2O_4$, (Ni,Mg)$Al_2O_4$ are discussed in terms of the TG-DSC and FT-IR results, respectively.