The sintering behavior and B-H loop properties of $Li_{0.5O4}$ with the addition of $Nb_2O_5$ and $V_2O_5$ have been investigated by observation of microstructures and measurement of semi-static hysteresis loops. The sintering temperature was lowered by the additions of $Nb_2O_5$ and $V_2O_5$ and the effect of $V_2O_5$ addition was greater than that of $Nb_2O_5$. The abnormal grain growth was observed at about 100$0^{circ}C$(d:4.6g/㎤) and 85$0^{circ}C$(d:4.5g/㎤) in the specimens with the addition of $Nb_2O_5$ and $V_2O_5$ respectively. The addition of $Nb_2O_5$ retulted in a large and uniform grain size, and the addition of $V_2O_5$ resulted in a uniform grain size but the final density was lower than that of the pure specimen. The squareness was increased and the coercive force was decreased by the addition of $Nb_2O_5$, and the squareness was decreased and the coercive force was increased by the addition of $V_2O_5$. These effects could be explained by a large and uniform grain size, and by a lower final density of specimens with the addition of $Nb_2O_5$ and $V_2O_5$ respectively.