A theoretical analysis is presented for a microstrip ferrite resonator of microwave frequency v(r) that is tunable by varying the state of magnetization. Measurements at 8 GHz indicate a 5% tunability range for a magnetic field H < 50 Oe. Calculations of v(r) as a function of H are fitted closely to data. Computed performance estimates of a superconducting resonator with an ideal magnetic structure project a remanent-state tunability limit of 25% and an X-band figure of merit of 7000 for a Q factor of 10(4).