SiC-AlN multiphase ceramics with 10 wt. %Y2O3-BaO-SiO2 additives were fabricated by pressureless sintering in a nitrogen atmosphere. The effects of SiC contents and sintering temperatures on the sinterability, microstructure, thermal conductivity and high-frequency dielectric properties were characterized. In addition to 6H-SiC and AlN, the samples also contained Y3Al5O12 and Y4Al2O9. SiC-AlN ceramics sintered with 50 wt. % SiC at 2173 K exhibited the best thermal diffusivity and thermal conductivity (26.21 mm2·s−1 and 61.02 W·m−1·K−1, respectively). The dielectric constant and dielectric loss of the sample sintered with 50 wt. % SiC and 2123 K were 33–37 and 0.4–0.5 at 12.4–18 GHz. The dielectric constant and dielectric loss of the samples decreased as the frequency of electromagnetic waves increased from 12.4–18 GHz. The dielectric thermal conductivity properties of the SiC-AlN samples are discussed.