In this work, PbFe1/2Nb1/2O3 (PFN) ceramic samples synthesized by chemically wet method (precipitation from the solution) were obtained. Due to the tendency to form powder agglomerates, the synthesized powder was subjected to ultrasound. The sintering was carried out under various technological conditions, mainly through controlling the sintering temperature. -X-ray powder-diffraction (XRD), scanning electron microscope (SEM) microstructure analysis, as well as the examinations of dielectric, ferroelectric, and magnetic properties of the PFN ceramics were carried out. Studies have shown that hard ceramic agglomerates can be partially minimized by ultrasound. Due to this treatment, closed porosity decreases, and the ceramic samples have a higher density. Optimization and improvement of the technological process of the PFN material extends the possibility of its use for the preparation of multiferroic composites or multicomponent solid solutions based on PFN. Such materials with functional properties find applications in microelectronic applications, e.g., in systems integrating ferroelectric and magnetic properties in one device. The optimal synthesis conditions of PFN ceramics were determined to be 1050 °C/2 h.