Nickel-substituted copper ferrite nanoparticles (NP) (Cu1-xNixFe2O4) were prepared using a cost-effective hydrothermal method. X-ray diffraction (XRD) pattern revealed a single-phase cubic spinel structure. The increase in lattice parameters and decrease in crystallite size are associated with the replacement of Cu ions by Ni ions in the host lattice of copper ferrite. The optimized Cu0.95Ni0.05Fe2O4 composition was subsequently annealed at 750 °C and 850 °C for further studies. Fourier transform infrared (FT-IR) analysis shows the existence of two promising fundamental adsorption peaks at 465 and 582 cm-1, related to the metal ion stretching vibrations at the tetrahedral (A) and octahedral (B) sites, respectively. The local disorder at both the A and B sublattices upon the incorporation of Ni was observed from the Raman analysis. Scanning electron microscopy (SEM) and high-resolution transmission electron microscopy (HR-TEM) images shows the formation of agglomerates composed of nano-sized spherical particles. A high Barrett-Joyner-Halenda (BJH) surface area was achieved 17.25 m2/g with a particle stability of -11.1 mV obtained by the zeta potential. Both the dielectric loss and dielectric constant are decreased, whereas the AC conductivity gets increased with increasing frequency. The magnetization-field hysteresis curves exhibited ferromagnetic behavior with a pseudo-single domain, and the cyclic voltammetry study revealed a pseudocapacitive trend. This study highlights the importance of Ni substitution to control the physicochemical properties of spinel-phase CuFe2O4 for diverse applications, such as energy storage and lithium-ion batteries.