Single-phase dysprosium orthoferrite (DyFeO3: DFO) nanoparticles have been synthesized using the nanoagitator bead mill. Rietveld refinement of the experimental X-ray diffraction (XRD) pattern confirms the orthorhombic crystal symmetry (Pnma space group) of the material. The surface morphology, grain size distribution, and color mapping were analyzed. The size of the DFO nanoparticles was found to be 49.5 nm. Dielectric polarization and relaxation mechanisms over a wide frequency range (1 kHz to 1 MHz) were explained by Maxwell-Wagner and Cole-Cole models. The non-Debye relaxation mechanism by the Cole-Cole model in the frequency-dependent dielectric analysis was again confirmed from the impedance study. The conduction phenomena in DFO are governed by the small polaron hopping mechanism. The DFO nanoparticles system is magnetically frustrated and exhibits a paramagnetic behavior. The spin reorientation from ⟨a⟩ axis to ⟨c⟩ axis around 25-50 K causes a decrease in magnetization of the sample. The present work unveils many possible opportunities for future studies, i.e., tailored multifunctional properties by site engineering and as a filler material for flexible electronics.