A refinement for the computation of the rigorous part of the multi-level fast multipole method (MLFMM) of analyzing volumetric objects is presented. A scheme based on the fast Fourier technique (FFT) is proposed with the objective of reducing the computational resources required to accurately analyze large homogeneous and non-homogeneous dielectric volumes. In order to reduce the memory requirements, the storage of the near-field terms of the method of moments (MoM) matrix is performed only for the positions corresponding to a parallelepiped with the size of the level 1 block of the MLFMM, computed with the vacuum permittivity, taking advantage of the Toeplitz symmetry present in regular hexahedral meshes. The FFT avoids applying the near-field MoM matrix in the iterative solution process. The application of this approach results in huge improvements in terms of memory usage, but also a speeds up the iterative solution process because the use of three-dimensional (3D) FFTs is very efficient for computing convolutions when the number of unknowns of the problems becomes very large as happens in volumetric problems. We also propose a new approach for the numerical treatment of the transition of the dielectric permittivity between different dielectrics or between a dielectric and a free space. To validate the computation technique, the radar cross section (RCS) of several dielectric bodies is computed using the classical MLFMM approach and it is compared with the presented FFT-based-MLFMM solution. The results demonstrate that the efficient memory and computation time usage of the proposed approach.