The frequency‐domain dielectric spectroscopy (FDS) of humid insulating paper has been measured at different temperatures. The data show three independent dielectric processes: electrode polarization, hopping conductivity and interfacial polarization. The dielectric properties of humid insulating paper are composed of hopping conductivity and interfacial polarization, and its equivalent dielectric model can be represented by a Havriliak‐Negami (HN) relaxation branch parallel hopping conductivity. At high temperatures and low frequencies, the measured dielectric spectroscopy bends downward, which is caused by the electrode polarization. In this case, the equivalent dielectric model is composed of the body impedance of insulating paper and the electrode polarization in series. According to the equivalent dielectric model, the components of electrode polarization, hopping conductivity, and interface polarization can be separated, thereby eliminating the parasitic effect of electrode polarization on the dielectric properties of insulating paper. Both of hopping conductivity and interface polarization of insulating paper move toward high‐frequency direction with temperature increasing. For humid insulating paper with a moisture content of 5.9%, the activation energies of hopping conductivity and interface polarization are 1.18 and 0.99 eV, respectively. This difference in activation energies results in the inability of the spectrums of insulating paper to overlap with each other at different temperatures. Based on the insulating paper without oil immersion, the results obtained in this article are not affected by oil or oil‐immersion operations. This provides a reference for exploring the dielectric properties and physical mechanisms of oil‐paper composite insulation materials widely used in high‐voltage equipment. © 2023 Institute of Electrical Engineer of Japan and Wiley Periodicals LLC.