Strontium-zirconium bimetal oxide (SrZrO3) samples at nanophase were prepared by chemical precipitation-annealnation method, and characterized by powder X-ray diffraction (XRD), UV-Vis and FTIR spectroscopies and field emission scanning electron microscopy (FESEM). Grain size (nm) of the SrZrO3 samples prepared by annealing at 650°C (S650), 850°C (S850) and 1050°C (S1050), respectively, were 55-60, 45-47 and 25-32. The optical band gaps (eV) estimated are to be 4.71 and 4.83 of S850 and S1050, respectively. Both FTIR and XRD studies confirmed the formation of SrZrO3 phase. FESEM images of the S850 sample showed the presence of agglomerated nano spheres with irregular surface morphology. Temperature dependent ac-conductivity analyses of S850 sample showed semiconducting behavior with low thermal activation energy (28 meV). Hopping conduction of charge carriers had been concluded considering the relaxation processes associated with the grain and grain boundaries of the sample. Dielectric behavior of S850 sample was confirmed from considerably high dielectric constant value (~ 140) and low dielectric loss (~ 0.6) at 100 Hz. Cyclic voltammograms suggested the pseudo-capacitive behavior of as-prepared S850 and S1050 samples. Thus as-prepared SrZrO3 nanophase could be used as High-K dielectric material in various applications.