The magnetic characterization of the multiferroic composites has become much important for their applicability in improving devices efficiencies. In this report, we have attempted to study the magnetic properties of the multiferroic composites consisting of Mn/Nd doped CoFe2O4 and Yb doped PbZrTiO3 by exploring a new technique called the First Order Reversal Curve (FORC) and also include morphological analysis of the composites and the parent phases. The morphological characterization with the Scanning Electron Microscope confirmed the average grain size decreased with an increase in the ferrite content. The FORC analysis of Mn/Nd doped Cobalt ferrite (CMnFO) and the composites grant the information about the switching field and the interaction field distribution, determining the various magnetic properties of the composites including the magnetic mixtures and the domain state of magnetisation. The FORC analysis also confirmed the nature of the interactions occurring in the system subjected to the shift of the FORC distribution along the interaction axis. The FORC studies determined the existence of the unique magnetic phase CMnFO in all the composites with no additional magnetic phase. The FORC study also describes the influence of the grain size on the FORC distribution of the samples and also the impact of the varying concentration of the ferrite phase on the intensity of the FORC distribution. Further, the Day plots obtained reveal that all the composites and CNdFO have pseudo-domain while the CMnFO phase has a single domain structure.