We report on the effect of molybdenum (Mo) incorporation on the crystal structure, surface morphology, Mo chemical valence state, and magnetic properties of cobalt ferrite (CoFe2O4, referred to CFO). Molybdenum incorporated cobalt ferrite (CoFe2–xMoxO4, referred to CFMO) ceramics were prepared by the conventional solid-state reaction method by varying the Mo concentration in the range of x = 0.0–0.3. X-ray diffraction studies indicate that the CFMO materials crystallize in inverse spinel cubic phase. Molybdenum incorporation induced lattice parameter increase from 8.322 to 8.343 Å coupled with a significant increase in density from 5.4 to 5.7 g/cm3 was evident in structural analyses. Scanning electron microscopy imaging analyses indicate that the Mo incorporation induces agglomeration of particles leading to larger particle size with increasing x(Mo) values. Detailed X-ray photoelectron spectroscopic (XPS) analyses indicate the increasing Mo content with increasing x from 0.0 to 0.3. XPS confirms that the chemistry of Mo is complex in these CFMO compounds; Mo ions exist in the lower oxidation state (Mo4+) for higher x while in a mixed chemical valence state (Mo4+, Mo5+, Mo6+) for lower x values. From the temperature-dependent magnetization, the samples show ferrimagnetic behavior including the pristine CFO. From the isothermal magnetization measurements, we find almost 2-fold decrease in coercive field (Hc) from 2143 to 1145 Oe with the increase in Mo doping up to 30%. This doping-dependent Hc is consistently observed at all the temperatures measured (4, 100, 200, and 300 K). Furthermore, the saturation magnetization estimated at 4 K and at 1.5 T (from M–H loops) goes through a peak at 92 emu/g (at 15% Mo doping) from 81 emu/g (pristine CFO), and starts decreasing to 79 emu/g (at 30% Mo doping). The results demonstrate that the crystal structure, microstructure, and magnetic properties can be tuned by controlling the Mo-content in the CFMO materials.