The effects of additional P-doping on the magnetic properties, thermal stability and cation distribution of Co-doped ${gamma}-{Fe_2} {O_3}$have been investigated by means of magnetic annealing and measurements with vibration sample magnetometer and torque magnetometer. It is found that the P-doping promotes the coercivity and its magnetic-thermal stability, which may be attributed to increase of the cubic magneto-crystalline anisotropy constant, $K_1$ and the activation energy, E, for cation rearrangement, respectively. The cation distribution of P and Co-substituted iron oxide was calculated from the variation of the saturation magnetization with P-doping on the basis of the Neel model. It was found that the most of P ions in the iron oxides occupied the B-site of spinel lattice.