Mg-substituted hydroxyapatite made up of needle-like and plate-like particles containing different amounts of Mg (between 0.21 wt% and 2.11 wt%) were prepared via wet chemical precipitation method of a homogenous suspension of Mg(OH)2/Ca(OH)2 and an aqueous solution of H3PO4. According to the data of Brunauer–Emmett–Teller method and field emission scanning electron microscopy, high specific surface area Mg-substituted hydroxyapatite was obtained. Specific surface area of as-synthesized powders increased from 94.9 m2 g−1 to 104.3 m2 g−1 with increasing concentration of Mg up to 0.64 wt%. Fourier transform infrared spectroscopy, X-ray powder diffraction, differential thermal analysis, and heating microscopy, were used to evaluate thermal stability and sintering behavior of synthesis products. Increase in concentration of Mg in synthesis products (≥0.83 wt%) promoted decomposition of Mg-substituted hydroxyapatite to Mg-substituted β-tricalcium phosphate after thermal treatment.