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Superparamagnetic Ni0.5Zn0.5Fe2O4 nanonoparticle is fabricated by a sol-gel method. The magnetic and structural properties as a function of annealing temperature were characterized by using X-ray diffactometry (XRD), Mossbauer spectroscopy, and vibrating sample magnetometry (VSM) as well as scanning electron microscope (SEM). Ni0.5Zn0.5Fe2O4 powder that was annealed at 573 K has spinel structure and behaved superparamagnetically at room temperature. The estimated size of superparammagnetic Ni0.5Zn0.5Fe2O4 nanoparticle is around 7 nm. The hyperfine fields of the A and B patterns at 4.2 K were found to be 514 and 481 kOe, respectively. The blocking temperature (TB) of superparammagnetic Ni0.5Zn0.5Fe2O4 nanoparticle is about 90 K. The magnetic anisotropy constant of Ni0.5Zn0.5Fe2O4 nanoparticle were calculated to be 1.6times106 erg/cm-3.