This work demonstrates the unusual room temperature ferromagnetism and ferroelectricity of the double perovskite multiferroic Y₂NiMnO₆ nanowires, fabricated using a facile solvothermal route. The physics behind the co-existence and coupling of ferroelectricity and ferromagnetism in Y₂NiMnO₆ nanowires at high temperature is the key focus of this article. The studies indicate that the large concentration of surface spin and the surface charge polarization associated with the surface electrons of the unique one dimensional high aspect ratio nanowires are responsible for the ferromagnetism and ferroelectricity, respectively at room temperature. It is believed that the ferromagnetism and ferroelectricity are mutually coupled with each other and they have a similar origin.