M-type strontium ferrite has attracted widespread attention in the field of permanent magnet materials due to its unique magnetic properties, dielectric performance, and thermal stability. However, compared with rare-earth permanent magnets such as Nd₂Fe₁₄B, strontium ferrite (SrFe₁₂O₁₉) permanent magnets possess relatively low comprehensive magnetic properties, which limits their application range. The effects of Ca-Co (Zn) doping on the electronic structure, mechanical properties, and magnetic properties of M-type strontium ferrite are systematically investigated by first-principles plane-wave pseudopotential method based on density functional theory (DFT), combined with the generalized gradient approximation (GGA + U ) in this work. The calculation results indicate that the Ca-Co (Zn) co-doped M-type strontium ferrite systems exhibit good structural stability and mechanical properties. In the Ca-Zn co-doped structures, the conductivity of the system is enhanced because of the substitution of divalent Zn ionsfortrivalent Fe ions at the 4f₁ site. The Ca-Co (Zn) co-doping increases the total magnetic moment of the system, while the magnetocrystalline anisotropy energy decreases. However, compared with the single Co doped system and single Zn doped system, the Co-Zn co-doped system has the magnetocrystalline anisotropy energy improved, indicating that Ca-Co (Zn) co-doping can effectively enhance the magnetic properties of strontium ferrite. In this work, the mechanisms of the effects of Ca-Co and Ca-Zn co-doping on the magnetocrystalline anisotropy energy of strontium ferrite are also analyzed. The results indicate that the decrease of magnetocrystalline anisotropy energy in the Ca-Co co-doped system is mainly due to the effects of d_xy and \mathrmd_x^2-y^2 orbital electrons of Co³⁺ ion and d_xy and \mathrmd_x^2-y^2 orbital electrons of Fe ions at the 2b site. In the Ca-Zn co-doped system, the reduction is mainly influenced by Fe-3d orbitals at the 4f₁ site, while the d_xy and \mathrmd_x^2 - y^2 orbital electrons of the 2b site enhance the magnetocrystalline anisotropy energy of the system. These results provide theoretical guidance for modifying M-type strontium ferritein future.