A process for producing microcrystalline barium ferrite platelets which comprises: forming an aqueous alkaline dispersion containing coprecipitates of hydroxides of barium ions, iron (III) ions, and optionally ions of a substituent element; heating the dispersion to a temperature of not less than 50.degree. C. and not more than the boiling point of the dispersion under an atmospheric pressure to convert the coprecipitates to precursors of the barium ferrite; calcining the precursors to provide microcrystalline barium ferrite platelets; the improvement comprising the step of adding a carbonating agent such as sodium carbonate to the aqueous alkaline dispersion before or after the heating of the aqueous dispersion to insolubilize water soluble barium ions therein, and the step of calcining the barium ferrite precursors in the presnece of sodium sulfate at temperatures of 700.degree.-900.degree. C., to provide microcrystalline barium ferrite platelets of about 0.03-0.1 .mu.m in average particle size and 2-5 in planarity ratio.