Spinel-type lithium magnesium manganese oxide LiMg0.5Mn1.5O4 was prepared by a coprecipitation/thermal crystallization method. Li+ and Mg2+ in the spinel-type lithium magnesium manganese oxide could be extracted by an acid treatment. The Li+ and Mg2+ extraction reaction with LiMg0.5Mn1.5O4 and the Li+ insertion reaction with the acid-treated oxide were investigated by chemical, X-ray, DTA-TG analyses, FT-IR spectroscopy, pH titration, and K(d) measurement. The extraction and the insertion proceed topotactically by ion-exchange-type mechanisms. The acid-treated oxide showed a lithium ion sieve property from microamount to macroamount of metal ion loading. The selectivity sequence for alkali metal ions was Na < K < Rb, Cs << Li over the pH range studied.