In the scope of this work, (Bi 2 O 3) 1-x-y (Dy 2 O 3) x (Ho 2 O 3) y ternary system (x=1,3,5,7,9,11 mol % and y=11,9,7,5,3,1 mol %, dopant concentrations) sample materials were developed using solid state reaction method sintering each of them at 650, 700, 750, 800 °C for 48 hours. Structural, electrical and thermal properties of these samples which are candidate of electrolyte for solid oxide fuel cells (SOFCs) have been evaluated by means of XRD, four-probe method, and TGA / DTA. XRD measurements showed that except the samples annealed at 650 o C, all the other samples have stabilized δ-Bi 2 O 3 phase. It was seen that duration of sintering time and temperature was rather effective on the formation of the stabilized sample materials and their other properties, such as electrical and structural properties. It was seen that the electrical conductivities of all the examples developed sintering at 700, 750 a nd 800 °C for 48 hours increases with the increasing temperature having numerical values varying in the range of 7,65x10-2 Ω.cm-1-6,11x10-1 Ω.cm-1. Activation energy of the sample A6 was calculated and it was found 0.97 eV. On the other hand, the main purpose of this study is to find an electrolyte which does not have any degradation in its properties with time; this maybe caused either interaction between the different electrochemical cell materials or by instability of the ionic conductor under operation conditions. During the heating/cooling process, the four-point probe conductivity measurements have been performed. The hysteresis curve was obtained for this sample due to time interval difference of heating/cooling processes. It was observed that there is no gradation in the structure of the sample.