Structural, optical, dielectric, and magnetic characteristics of Sr–Ni–W hexaferrites were probed to justify their potential use in various applications. Sr1-xCoxZnyNi2-yFe16O27 (WHFs) ferrites were synthesized by the self-combustible sol-gel method. XRD analysis confirmed a single-phase material with different Co–Zn contents. Fourier transform infrared spectroscopic (400-4000 cm−1) analysis was performed. Variations in Raman intensities indicated the induction of local strain due to a mismatch of ionic radii. The energy band gap (1.879 eV) was calculated from photoluminescence spectra, indicating the semiconducting nature of materials. SEM images showed the presence of grains with hexagonal platelet morphology oriented irregularly, which is highly beneficial for microwave absorption. The high coercivity values indicated that the materials are magnetically hard. Magnetic analysis revealed the potential use of materials in high-storage applications. Dielectric properties were determined using a vector network analyzer within a frequency span (0–6 GHz), indicating materials' usefulness in constructing resonant circuits and MLCIs.