LaFeO3 is a type II multiferroic material which exhibits improper ferroelectricity induced by magnetic order (antiferromagnetism). However, the antiferromagnetic order limits its applications. This study demonstrates the induction of ferromagnetism in LaFeO3 by doping with cobalt, varying the level of cobalt from 0 to 0.5 mol. Moreover, the effects of cobalt on the crystal structure, magnetic and dielectric properties are described. The XRD results show that at doping concentrations lower than 0.3 mol, LaFeO3 maintains its orthorhombic structure (Pnma), while at higher cobalt concentrations the rhombohedral (R-3c) LaCoO3 phase emerges. In addition, cobalt doping induces ferromagnetism because cobalt occupies iron positions until the solubility limit is reached (0.3 mol). All samples present high relative permittivity values, which increase with increasing cobalt content and temperature. Furthermore, the presence of cobalt results in a decrease in the dielectric dissipation factor for cobalt contents lower than 0.3 mol, due to the inhibition in the formation of vacancies. However, the presence of LaCoO3 at high cobalt contents increases the dielectric losses due to the presence of a mixtures of phases. Moreover, the electric polarization curves exhibited weak ferroelectric behavior for ferrites with cobalt contents lower than 0.3 mol, and lossy improper ferroelectric type behavior for samples with higher contents.