The glass samples with compositional range xLi2O-(40-x)B2O3-25ZnO-35P2O5(LBZP) (where x = 5, 10, 15, 20, and 25) were prepared with the melt-quench method. The density, molar volumes of these glasses was estimated employing Archimedes’s principle. The electrical properties of these glasses employing the impedance spectrometer have been investigated thoroughly at temperatures ranging from 333K to 533K and frequency windows between 20Hz and 5MHz. Several theoretical models such as Almond West formalism, correlated barrier hoping model, equivalent circuit models of Nyquist plots, etc., were used to estimate important parameters of the samples such as different conductivity and impedance parameters, the density of states, enthalpy parameters, etc. Dielectric studies of the samples were performed by analysing dielectric and modulus spectra. Bergman's model was used to analyse modulus spectra and Havriliak-Negami (HN) formalism was used to analyse dielectric spectra. Scaling formalism of modulus spectra was used to study the structure and temperature-dependent relaxation mechanism of the charge carriers. It has been shown that the samples with higher lithium content exhibit enhanced ionic and electronic conductivity. It indicates their possible application in electrode materials.