A new ferroelectric oxide (Li2Pb2Gd2W2Ti4Nb4O30) of the tungsten bronze structural family was synthesized using a high temperature solid-state reaction (i.e., mixed-oxide) method at 1100 o C. Room temperature structural analysis (XRD) shows the formation of a new compound in single phase. The ferroelectric phase transition temperature (much above the room temperature) was determined by the dielectric and polarization measurements. Impedance, modulus and electrical conductivity of the material exhibit a strong correlation between its micro-structure and electrical parameters. The existence of non-exponential-type of conductivity relaxation in the compound was confirmed by detailed studies of its transport properties.