PbO–Nb2O5–P2O5 glasses containing different concentrations of V2O5 ranging from 0 to 1.0 mol% were prepared. A number of studies, viz. differential thermal analysis, infrared, optical absorption, Raman and ESR spectra and dielectric properties (dielectric constant ϵ′, loss tan δ, a.c. conductivity σac over a range of frequency and temperature), of these glasses have been carried out. The results have been analysed in the light of different oxidation states of vanadium ions. The analysis indicates that when the concentration of V2O5 is increased gradually, vanadium ions are observed to exist mostly in the V4+ state, occupy network‐modifying positions and decrease the rigidity of the glass network. A transformation of NbO4 to NbO6 structural units and a decrease in the concentration of PO4 structural units have also been observed with an increase in the concentration of V2O5 in the glass network. (© 2006 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim)