In the present investigation, a facile synthesis method is explored involving a self-combustion of a solid precursor mixture of iron oxide Fe 2 O 3 and boric acid (H 3 BO 3 ) using camphor (C 10 H 16 O) as fuel in ambient air in order to form a single phase Fe 3 BO 6 crystallites. X-ray diffraction (XRD), Field emission electron microscopy (FESEM), magnetic, and dielectric properties of as prepared sample are studied. From XRD pattern, a single phase compound is observed with an orthorhombic crystal structure (Pnma space group), with average crystallite size of 42 nm. A reasonably uniform size distribution of the plates and self-assemblies is retained in the sample. A magnetic transition is observed in dielectric permittivity (at $445 K) and power loss (at $435 K) when plotted against temperature. A weak peak occurs near 330 K due to the charge reordering in the sample. For temperatures above the transition temperature, a sharp increase of the dielectric loss is observed which occurs due to the presence of thermally activated charge carriers. A canted antiferromagnetic Fe 3þ ordering in a Fe 3 BO 6 lattice with a localized charge surface layer is an apparent source of exhibiting a ferroelectric feature in this unique example of a centrosymmetric compound. An induced spin current over the Fe sites thus could give rise to a polarization hysteresis loop. Due to the presence of both ferromagnetic as well as polarization ordering, Fe 3 BO 6 behaves like a single phase multiferroic ceramics.