In this present work, the Ca-doped BaFe0.5Nb0.5O3 perovskite is synthesized through the typical solid solution route and a thorough investigation of its structural, optical, dielectric, electrical, and magnetic properties is carried out. Basic structural analysis through X-ray diffraction technique reveals that the sample has a monoclinic crystal symmetry (a = 4.7487 Å, b = 2.8465 Å, c = 5.7641 Å, V = 36.36 (Å)3, β = 101.45ᵒ, and space group = C1m1). Scanning electron microscopy and transmission electron microscopy techniques confirm the polycrystalline nature of the sample. Energy-dispersive X-ray spectroscopy reveals the constituent elements in the sample. Ultraviolet photoelectron spectroscopy is used to determine the sample work function. X-ray photoelectron spectroscopy specifies the existence of dual valencies of Fe and Nb in the sample which in turn validates several physical mechanisms. The optical bandgap energy is estimated as 1.97 eV through UV-Visible spectroscopy. A significantly high dielectric constant value is noted at room temperature in the lower frequency domain. Impedance spectroscopy unveils the non-Debye type of relaxation and negative temperature coefficient of resistance nature of the sample. Conductivity analysis provides insight into the significance of involved charge transporters. The room temperature magnetic investigation reveals the ferromagnetic property of the sample. In inference, the synthesized perovskite material can be declared as a potential option for multipurpose implementations.