In the present paper, composite thin films of barium strontium titanate (BaxSr1−xTiO3) with an acceptor modifier (magnesium oxide—MgO) were deposited on metal substrates (stainless steel type) using the sol–gel method. The composite thin films feature BaxSr1−xTiO3 ferroelectric solid solution as the matrix and MgO linear dielectric as the reinforcement, with MgO concentrations ranging from 1 to 5 mol%. Following thermal treatment at 650 °C, the films were analyzed for their impedance response. Experimental impedance spectra were modeled using the Kohlrausch–Williams–Watts function, revealing stretching parameters (β) in the range of approximately 0.78 to 0.89 and 0.56 to 0.90 for impedance and electric modulus formalisms, respectively. Notably, films modified with 3 mol% MgO exhibited the least stretched relaxation function. Employing the electric equivalent circuit method for data analysis, the “circle fit” analysis demonstrated an increase in capacitance from 2.97 × 10−12 F to 5.78 × 10−10 F with the incorporation of 3 mol% MgO into BST-based thin films. Further analysis based on Voigt, Maxwell, and ladder circuits revealed trends in resistance and capacitance components with varying MgO contents, suggesting non-Debye-type relaxation phenomena across all tested samples.