The LaSrZrFeO6 powder was synthesized using a conventional solid-state reaction process. The qualitative phase analysis through X-ray Diffraction (XRD) and data analysis with Rietveld refinement confirm the single-phase formation of a novel double perovskite. Crystal structure investigation was conducted to determine the lattice parameters, bond lengths, angles, and ions distribution. Additionally, crystallite size, lattice strain, density, and porosity were calculated. Fourier-transform infrared (FTIR) spectroscopy has been performed to examine the vibrational modes and bond formations in the sample. The sample's microstructure, including grain shape and size distribution, and elemental composition, were assessed using Field Emission Scanning Electron Microscopy (FE-SEM) and Energy Dispersive X-ray (EDX) analysis. The optical energy bandgap of the material, determined to be 2.81 eV, was ascertained through UV-visible absorption spectroscopy. Furthermore, the refractive index was calculated using both the Moss and the Herve and Vandamme methods. The study also delved into the electrical characteristics of the material, such as permittivity (εr), loss tangent (tanδ), and conductivity (σ). These properties were analyzed in relation to changes in frequency and temperature, employing particular formulas and parameters for a comprehensive understanding.