The substrate materials play a major role in the design, production and, most importantly, the performance of the Microstrip antennas. The main goal of this thesis lies in performing a comprehensive and exhaustive study as well as an analysis of how magnetic substrates affect the performance indices of the Microstrip antennas. This project takes into consideration the fact that study of magnetic materials as substrates is a relatively uncharted territory and that a few studies into this field have shown many potential facts. This project narrows the antenna under study to a rectangular Microstrip antenna, due to both the simplicity and the versatility of this structure and the scalability of the study. The project was performed using simulation of Microstrip antenna in CST Microwave Studio with magnetic substrates, over a range of μr, and recording the performance indices of the antenna. The performance indices that were considered for the study were Directivity, Efficiency, Gain, Bandwidth, Resonant frequency and VSWR. The method followed in this study can be easily scaled further to accommodate more performance indices, if needed. The observations were later used to draw practical inferences. Also as an extension, wide band 2x2 Microstrip antenna is designed with an additional degree of freedom where changing the feed distance can cover different bands in GSM frequency.