The inherent high conductivity and limited loss mechanism of graphene result in an impedance mismatch with free space impedance. Co2Y-type ferrite exhibits strong planar magnetic anisotropy and a high natural resonance frequency compared to other ferrites. Therefore, the utilization of Co2Y-type ferrite magnetic particles to impart magnetic loss capability to graphene is considered an effective strategy for enhancing electromagnetic wave absorption efficiency. Ferrite/RGO composite material with excellent microwave absorption properties was synthesized by coupling sol-gel derived Ba2Co2Fe12O22 hexaferrite with graphene oxide, followed by reduction using ascorbic acid. More noticeably, the ferrite particles stably adhere to the surface or interlayer of graphene through adsorption, while the reduced graphene oxide with residual oxygen-containing functional groups simultaneously enhances the dielectric loss. The proper mass ratio of graphene oxide to ferrite particles (1:2) and optimized electromagnetic parameters endow the microwave absorbing materials with a minimum reflection loss value of approximately -45.25 dB and an effective bandwidth of around 4.75 GHz. The simulation calculations are further investigated to verify the practical application of this absorber. Accordingly, we therefore conclude this study provides a new perspective on advanced ferrite/graphene composite based MAMs.