Mn-Zn ferrites doped with Cr3+ were prepared by “one-step synthesis” and conventional two-step synthesis methods, respectively. Their phase compositions and microstructures were characterized by X-ray diffraction and scanning electron microscopy, respectively. And their magnetic magnetic performance, such as saturation magnetization (Ms), magnetic hysteresis, initial permeability μi and power loss were comparatively investigated by vibrating sample magnetometer. It was observed that the difference of magnetic performance of the samples prepared by both methods is little. The similar performance of both methods makes the “one-step synthesis” especially attractive for application when considering energy economization.