Nickel-zinc ferrite composite material as an excellent absorbing material with high flexibility and machinability, is widely used in shielding electromagnetic interference in communication. To improve the cutting quality of ferrite composite sheets, laser cutting process with sub-nanosecond pulsed laser was selected in this work. The scanning strategy of laser cutting was improved firstly. Compared with the conventional multi-pass strategy, the improved multi-pass strategy with periodic scanning-cooling suppressed the heat accumulation significantly. The width of the HAZ (heat affected zone) of kerf reduces from 567.39 μm to 249.42 μm, a decrease of 56%. Response surface model was used to analyze the comprehensive effects of average laser power (P), beam scanning speed (v), and the number of scans in each cycle of scanning-cooling (n1) on the width of HAZ and cutting efficiency. The parameters were analyzed for proper process window. High average power, high scan speed, and few scan times are beneficial to reduce the width of HAZ while taking into account the cutting efficiency. Results of parameter optimization showed that the improved processing could cut off 0.2 mm nickel-zinc ferrite composite sheet in 9 cycles with the average power is 19.7-21.1 W, the scanning speed is 1 750-1 800 mm/s, the number of scans in each cycle is 20-24, and the width of the HAZ is about 200 μm.