This paper presents the results of research on the Fricke–XO–Pluronic F–127 dosimeter. It consists of a Fricke dosimetric solution and xylenol orange (XO), which are embedded in a matrix of poly(ethylene oxide)-block-poly(propylene oxide)-block-poly(ethylene oxide) (Pluronic F–127). Upon irradiation, Fe+2 ions transform into Fe+3, forming a colored complex with XO ([XO-Fe]+3). The color intensity is related to the dose absorbed. The optimal composition, storage conditions, and radiation-induced performance of the Fricke–XO–Pluronic F–127 dosimeter were investigated. The optimal composition was found to be 1 mM FAS, 50 mM sulfuric acid (H2SO4), 0.165 mM XO in 25% Pluronic F–127. The basic features of this dosimeter are discussed, such as dose sensitivity, linear and dynamic dose range, stability before and after irradiation, storage conditions, dose response for irradiation with 6 and 15 MV photons, and batch-to-batch reproducibility. The obtained results showed a certain potential of the Fricke–XO–Pluronic F–127 for radiotherapy dosimetry.