Nanoparticles of cobalt ferrite were synthesized by sol gel method. These particles were structurally characterized by using X-Ray Diffraction and Transmission Electron Microscopy, High Resolution Transmission Electron Microscopy, Energy Dispersive Spectrum and Inductively Coupled Plasma Analysis and the results confirmed the formation of spherically shaped nanoparticles of cobalt ferrite having a size lying in the range of 13-14 nm. The as prepared sample was sintered at 800 degrees C and the structural, magnetic and dielectric properties were measured. The dielectric properties were studied and analyzed as a function of temperature and frequency. The ac and dc conductivity studies were carried out to delve into the conduction mechanism. The existing models based on quantum mechanical tunneling were effectively employed to explain the frequency dependent conductivity. (C) 2009 Elsevier B.V. All rights reserved.