The effect of iron deficiency on the structural, electrical, ferroelectric and magnetic properties of nano PbFe12-xO19-δ (where x=0.0, 0.25, 0.50, 0.75, 1.0) hexaferrites prepared by sol-gel auto combustion and processed by microwaves are investigated. X-ray analysis confirms single phase magneto-plumbite phase formation. The surface morphology is studied from Field Emission Scanning Electron Microscope. Further, optical properties are investigated using Fourier Transform Infrared spectra and UV–visible spectra. AC electrical conductivity is estimated as a function of temperature and frequency in the range of room temperature (RT) to 500 °C and 100 Hz to 5MHz. AC electrical conduction analysis shows that conduction is mainly due to small polaron hopping mechanism. The variation of polarization with applied electric field exhibits hysteresis loop confirming the ferroelectric nature. The initial permeability studies with varying temperature reveals that the Curie transition temperature for the present series is around 400 °C. Variation of initial permeability with frequency ranging from 100 to 5 MHz shows a constant value (except for x=0.0) opening avenues for high frequency applications. © 2017 Elsevier B.V.