Correct spelling, explanation: the word sorcerer originates from late Middle English sorser and from Old French sorcier. It’s an agent noun, which means it denotes the performer of an action. This is indicated by the -er suffix. This word may cause some trouble because the -or suffix is often used to create agent nouns as well. That’s why it’s important to look at its etymology. Sorcerer is the only correct form and sorceror is incorrect.

Definition of sorcerer:
noun, a person who claims or is believed to have magic powers
The sorcerer enchanted the beautiful princess.
Albus Dumbledore is the greatest sorcerer in the world!

Collocations with sorcerer:
Some most commonly used collocations include: powerful sorcerer and evil sorcerer.
When I was a kid, I really wanted to become a powerful sorcerer.
The evil sorcerer is a typical villain in children’s movies.

Incorrect spelling, explanation: sorceror is just a spelling mistake – this word doesn’t exist. The only correct version of the noun is sorcerer. It’s easy to get confused because the -or suffix also appears in English and is used to form nouns denoting performers of actions. Sorcerer originates from the word sorcery. Remember that it has to end with the -er.