A series of carbon paper-supported spinel structure ferrite MFe2O4 microsphere catalysts (M2+ = Fe2+, Co2+, Ni2+, and Zn2+) were synthesized via an in-situ hydrothermal method using carbon paper as the substrate. The influence of the type of M2+ in the ferrite and the characteristics of an external magnetic field on the catalyst’s oxygen evolution reaction (OER) performance was investigated. Results indicate that carbon paper-supported NiFe2O4 (NFO-Ms/C) exhibits excellent OER performance, with an overpotential of 409 mV at 10 mA·cm?2, a Tafel slope of 78.9 mV·dec?1, and an electrochemically active surface area of 1.6 mF·cm?2. This superior performance is primarily attributed to the abundance of higher-valent M3+ ions in NiFe2O4, coupled with its lower conductivity and abundant oxygen vacancies, which collectively facilitate the OER process. Stability tests reveal that the overpotential of the catalyst increases by only approximately 5% after 60 hours, mainly due to surface reconstruction of the catalyst. An external alternating magnetic field can enhance the OER performance of NFO- Ms/C. When the intensity of the alternating magnetic field is 4.320 mT, the overpotential of NFO-Ms/C decreases from 455 mV to 315 mV at 10 mA·cm?2, representing a 30.8% reduction. This is due to the induced electric field generated by the alternating magnetic field, which increases the concentration of active surface species OH- on the electrode, thereby enhancing the electrode potential, and the magnetocaloric effect provides additional energy to accelerate charge transfer.