This study examined the crystallographic and magnetic properties of vanadium-substituted lithium cobalt titanium ferrite, $Li_{0.7}Co_{0.2}Ti_{0.2}V_{0.2}Fe_{1.7}O_4$. Ferrite was synthesized using a conventional ceramic method. The samples annealed below $1040^{circ}C$ showed X-ray diffraction peaks for spinel and other phases. However, the sample annealed above $1040^{circ}C$ showed a single spinel phase. The lattice constant of the sample was $8.351;{AA}$, which was relatively unaffected by vanadium-substitution. The average grain size after vanadium-substitution was $13.90;{mu}m$, as determined by scanning electron microscopy. The M$ddot{o}$ssbauer spectrum could be fitted to two Zeeman sextets, which is the typical spinel ferrite spectra of $Fe^{3+}$ with A and B sites, and one doublet. From the absorption area ratio of the M$ddot{o}$ssbauer spectrum, the cation distribution was found to be ($Co_{0.2}V_{0.2}Fe_{0.6})[Li_{0.7}Ti_{0.2}Fe_{1.1}]O_4$. Vibrating sample magnetometry revealed a saturation magnetization and coercivity of 36.9 emu/g and 88.6 Oe, respectively, which were decreased by vanadium-substitution.