Multiferroic composites of sol-gel synthesized Sodium Bismuth Titanate (Na0.5Bi0.5TiO3) and Co–Ti substituted Barium Hexaferrite (BaFe12-2xCoxTixO19; x = 0.0, 0.5, 1.0, 1.5 and 2.0) in the ratio 3:1 was synthesized through ceramic route. Successful formation of R3c rhombohedral and P63/mmc hexagonal phases corresponding to Na0.5Bi0.5TiO3 and BaFe12-2xCoxTixO19 respectively was confirmed from the XRD and Rietveld refinement pattern. The frequency and temperature dependence of dielectric constant and loss of the composite systems exhibited typical dispersion behaviour which could be understood using the Maxwell-Wagner model. Substituted samples showed enhanced dielectric behaviour where dielectric constant was observed to increase while loss tangent decreased. Using the Universal Jonscher's Power law (JPL), conductivition mechanisms of the composite systems were studied from the ac conductivity behaviour which revealed that the x = 0.0 sample followed Non-overlapping Small Polaron Tunnelling (NSPT) model while the remaining samples followed the Correlated Barrier Hopping (CBH) model. The complex impedance and Nyquist plot analysis showed the enhancement of resistive property in the x≠0 systems. Magnetic hysteresis loop measurements were conducted, and the associated parameters were determined with the assistance of the Law of Approach to Saturation (LAS). Favourable reduction in the magnetic anisotropy was observed indicating the disturbance of magnetic spin structure in the hexaferrite phase. The P-E loops established the novel room temperature multiferroic nature of the composite systems. Significant magnetoelectric coupling was detected at room temperature in all samples, with the x = 0.5 sample exhibiting the highest value of approximately 59.81 mV/cmOe. These desirable properties suggest that the composites may find future device applications as in magnetically tunable energy harvesting devices and self-powered magnetoelectric sensors in the future.