In the present communication, we have reported the synthesis of nanocrystalline lead ferrite (PbFe2O4) by citrate mediated autocombustion method. X-ray diffraction pattern reveals the single phase formation in cubic (spinel) structure. The particle size and the surface morphology of the samples are characterized by TEM and SEM analysis. Magnetic studies are carried out using vibrating sample magnetometer (VSM) shows a very high coercive field for the material. Mössbauer studies were performed to investigate the local symmetry i.e. Fe is in octahedral/tetrahedral site and the charge states of Fe ions.