The study of basic crystal structure, dielectrics, magnetic and electrical characteristics of a high temperature sintered dysprosium (Dy) substituted bismuth ferrite (BFO) ceramic material, Bi(Fe0.90Dy0.10)O3 (abbreviated as BFDO10) has been reported in this work. The solid-state reaction (SSR) technique is adopted for synthesizing the material. Study of the X-ray diffraction (XRD) data shows an orthorhombic symmetry. The approximate crystallite size is found to be 29 nm. The field emission scanning electron micrograph (FESEM) shows a high density grains of the sample and energy dispersive X-ray micro-analysis (EDXMA) reveals the presence of its basic components. The extensive analysis of the dielectric and electrical properties of the sample was carried out within a frequency from 1 kHz to 1000 kHz and temperature ranges from 25 to 500 °C. A study of the impedance spectroscopy reveals a negative temperature coefficient of resistance (NTCR) behavior and a non-Debye type of dielectric relaxation process of the compound. The ac-conductivity (σac ) of the material follows Jonscher’s universal power law. A study of the electric field polarization confirms the enhancement in remnant polarization and coercive field. The magnetic property shows an enhancement in ferromagnetic orders by virtue of this doping. Moreover, several other interesting features which could be utilized for modern device applications also specified in this article.