The dielectric spectra of 1,3-butanediol in the temperature range of 298–423 K are analyzed using a variety of theoretical approaches. It is shown that the dielectric spectra of 1,3-butanediol are described by the Davidson–Cole equation. Conclusions as to possible mechanisms of dispersion are drawn using the Debye theory. The relaxation times of 1,3-butanediol, calculated in different ways, are compared. The dipole moments of clusters are calculated for the first time using the Dissado–Hill cluster model.