Wave scattering from a finite hollow cone with perfectly conducting boundaries embedded in a dielectric sphere is considered. The structure is excited axially symmetrically by the radial electric dipole. The scattering problem is formulated in the spherical coordinate system as the boundary value problem for the Helmholtz equation. The diffracted field is given by expansion in the series of eigenfunctions. Owing to the enforcement of the conditions of continuity together with the orthogonality properties of the Legendre functions the diffraction problem is reduced to infinite system of linear algebraic equations (ISLAE) of the first kind. The usage of the analytical regularization approach transforms the ISLAE of the first kind to the second one and allows one to justify the truncation method for obtaining the numerical solution in the required class of sequences. This system is proved to be regularized by a pair of operators, which consist of the convolution type operator and the corresponding inverse one. The inverse operator is found analytically using the factorization technique. The numerical examples are presented. The static and the low-frequency approximations as well as the transition to the limiting case when the cone degenerates into the disc are considered.This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.