We have investigated the structural, magnetic, magnetodielectric, and magnetoimpedance characteristics of Aurivillius-structured Bi 5 Ti 3 FeO 15 (BTFO) synthesized by a generic solid-state reaction route. Rietveld refinement of X-ray diffraction pattern at room temperature (RT) confirms orthorhombic crystal structure (space group A2 1 am). In BTFO, octahedral distortion of the perovskite unit occurs due to antisite defects Fe/Ti in the BO 6 site, which results in the formation of Fe-O clusters. Raman spectra also reveal Ti/FeO6 octahedral distortion due to the vibration of Bi ions in the perovskite layer. Magnetic fielddependent magnetization (M-H) and electric field-dependent polarization (P-E) measurement at RT indicate the existence of multiferroic behavior in BTFO. The M-H hysteresis at 5 K suggests that the non-interacting superparamagnetic state is dominant over the local short-range antiferromagnetic (AFM) ordering. The AFM interaction arises due to the random distribution of antisite defects Fe/Ti causing the distorted Fe-O octahedral unit. These canted spin interact via the Dzyaloshinskii-Moriya (DM) interaction. The superexchange interaction between the Fe-O-Fe ions is stronger than the next-nearest-neighboring Fe-O-O-O-Fe interaction. This happens due to the intermediate fluorite-like layer (Bi 2 O 2 ) 2? , which opposes the long-range exchange interaction. The negative magnetodielectric (MD) effect is more prominent at low frequency (* 100 Hz) due to the extrinsic contribution. In contrast, in the high-frequency region ([ 50 kHz), the intrinsic contribution dominates, which is further ascertained by magnetoimpedance (MI) measurement. The maximum magnitude of the MD effect is found to be * 0.32% at a magnetic field of 13 kOe at 150 K. Lastly, the ferroelectric characteristic of the sample is obtained from the P-E measurement with a polarization value of 4.35 lC/cm 2 with an applied electric field of 70 kV/ cm.