The synthesis of pyrazoles and its derivatives remains of great interest due to their wide applications in pharmaceutical and agrochemical industry. The 1‐phenyl‐3‐(propan‐2‐yl)‐1H‐pyrazol‐5‐ol was synthesized. The 1‐phenyl‐3‐(propan‐2‐yl)‐1H‐pyrazol‐5‐ol single crystals were grown by slow solvent evaporation technique using mixture of chloroform and methanol as a solvent. Yellowish and transparent crystals having maximum dimensions of 0.005 m × 0.004 m × 0.002 m were grown. The crystals were characterized by powder XRD, FT–IR, TG–DTA–DSC and dielectric study. The crystals remained stable up to 160 °C and then start decomposing. The DSC suggested both endothermic and exothermic reactions. One broad exothermic peak was observed at 558.1 °C due to complete decomposition of the sample into the gaseous phase and reaction within the products. Thermodynamic and Kinetic parameters of decomposition were calculated by Coats–Redfern formula. The dielectric study was carried out in the frequency range from 50 Hz to 5 MHz at room temperature. The dielectric constant decreased as the frequency of the applied field increased. The variations of dielectric loss, a.c. conductivity and a.c. resistivity also studied with the frequency of the applied field. Jonscher's power law was verified for a.c. conductivity.