Lead-based electro-ceramic compositions are excellent energy storage materials used for high-energy storage density applications in dielectric ceramic capacitors. However, these materials have lead contents in their compositions, making them toxic, with a negative impact on human health and the environment. For this reason, we synthesized a lead-free bismuth-based electro-ceramic perovskite, 0.80(0.92Bi1/5Na1/5TiO3-0.08BaTiO3)-0.20(Na0.73Bi0.09NbO3−xTa2O5), abbreviated (BNT-BT-NBN1−xTx), from mixed oxides with doping of tantalum (Ta) at different concentrations, using a conventional solid-state reaction method. The effects of Ta doping on the phase evolution, microstructure development, and energy storage applications were investigated. Detailed powder X-ray diffraction analysis revealed a pure perovskite phase with Ta doping at ≤0.05. Furthermore, it was observed that excessive addition of Ta has been resulted in secondary phase generation. Scanning electron microscopy validated the development of dense microstructures with a reduced grain size for the Ta concentration of ≤0.01. Electrochemical analysis revealed a maximum polarization (Pm) of ~22 µC/cm2 and a recoverable energy density of 1.57 J/cm3 with 80% efficiency for Ta doping at 0.05 with an applied field of 175 kV/cm. These results demonstrate the development of enhanced ferroelectric characteristics in an as-synthesized electro-ceramic perovskite for high-energy storage density applications in electro-ceramic capacitors.