Strontium hexaferrite is one of the very important categories of magnetic materials with a wide range applications. One of the very critical parameters in the high temperature method of production of this material is molar ratio of iron oxide to strontium oxide. Although there could be found some reports on the effect of this parameter on the physical properties of the material in the literature but there are very few investigations about the role of this factor on the reactions occurred in the process. In this work the effect of different molar ratios of precursors on the reactions carried out for processing of strontium hexaferrite have been investigated by using thermal analysis techniques such as DTA/TG. Furthermore, the microstructure and the powder and bulk magnetic properties of the products have been studied by SEM, VSM and permeameter.