This invention relates to a method for preparing spinel-type ferrite powder. The procedures are: (1) weighing, according chemometrics ratio of the components, the raw materials: Zn(NO3)2, Fe(NO3)3, Mn(NO3)2 and rare-earth metals nitrates, mixing them evenly to produce metals nitrates solution; (2), mixing egg-white and distilled water with ratio of 3:2, under room temperature agitating to produce egg-white water solution, (3), adding said nitrates solution into egg-white solution slowly and agitating, (4), strong agitation for 1.5-2.5hrs, until the solution is changed from thick paste into yellow brown emulsion, (5), putting the same in a water-bath under temperature of 80+-5deg.C, for heating 8-12hrs, to obtain pre-product, (6), milling the same, and then being sintered under temperature 450-700deg.C for 3-7hrs, (7), it is then quickly cooled in ice-water, (8), drying the same under 100deg.C to obtain the final product. This invention has advantages: simple operation, low cost, mild condition, low toxity and low corrosion.