Photorefractive holographic storage and optical transmission spectra properties were studied in a series of Ce∶Fe-doped LiNbO3 crystals including different dopants, different concentrations of dopants, and different post-proposed samples (as-grown or reduced or oxidized). The experimental results show that the top-quality photorefractive holographic storage, the wide range of optical transmission spectra and the relatively small gain of two-wave coupling can be found in Ce-doped LiNbO3 crystal. The optical transmission spectra range and the gain of two-wave mixing is small in the high concentrations Fe-doped LiNbO3 crystals. Post-disposed (reduced or oxidized) samples had influence on the photorefractive property. The high gain of photorefractive two-wave coupling can be found in Ce∶Fe-doped reduced LiNbO3 crystal. The wider optical transmission spectra range can be obtained in the oxidized samples. And the greater gain of photorefractive two-wave coupling can be obtained in reduced samples. It is difficult to obtain the high gain of photorefractive two-wave coupling and the image storage quality simultaneously.