The electrical conductivity of dry sintered olivine aggregates with various contents of magnetite (0, 3, 5, 7, 10, 20, and 100 vol. %) was measured at temperatures of 873–1273 K and a pressure of 2.0 GPa within a frequency range of 0.1–106 Hz. The changes of the electrical conductivity of the samples with temperature followed an Arrhenius relation. The electrical conductivity of the sintered olivine aggregates increased as the magnetite-bearing content increased, and the activation enthalpy decreased, accordingly. When the content of interconnected magnetite was higher than the percolation threshold (~5 vol. %), the electrical conductivity of the samples was markedly enhanced. As the pressure increased from 1.0 to 3.0 GPa, the electrical conductivity of the magnetite-free olivine aggregates decreased, whereas the electrical conductivity of the 5 vol. % magnetite-bearing sample increased. Furthermore, the activation energy and activation volume of the 5 vol. % magnetite-bearing sintered olivine aggregates at atmospheric pressure were calculated to be 0.16 ± 0.04 eV and −1.50 ± 0.04 cm3/mole respectively. Due to the high value of percolation threshold (~5 vol. %) in the magnetite impurity sample, our present results suggest that regional high conductivity anomalies in the deep Earth’s interior cannot be explained by the presence of the interconnected magnetite-bearing olivine aggregates.