This paper deals with electromagnetic wave propagation in a longitudinally magnetized, ferrite‐filled elliptical waveguide. Using the wave equations and boundary conditions for a ferrite‐filled waveguide of arbitrary cross‐sectional shape, it is shown that for an elliptical cross section the characteristic equations for the propagation constant take the form of even and odd infinite determinants. Solutions for the characteristic equations are obtained for various values of applied field strength, saturation magnetization, and waveguide ellipticity. The existence of three types of cutoff conditions is demonstrated.