The permittivity and permeability measurements of ferric oxide (Fe2O3) were carried out over a broad temperature range from 24°C to above 1 000°C at 915 and 2 450 MHz. The real part and imaginary part of complex relative permittivity (εr' and εr") of ferric oxide slightly increase with temperature below 450°C, above which εr' increases significantly while εr" presents a broad dielectric loss peak between 450 and 1 000°C. Contrary to εr' and εr", the real part and imaginary part of complex relative permeability (μr' and μr") remain relatively invariable (1 and 0, respectively) until 700°C. The μr' values subsequently exhibit a decreasing tendency due to the increased electrical conductivity at higher temperatures while the μr" values stay negligible as temperature increases. The results demonstrate that the dielectric loss is the primary factor contributing to microwave absorption of Fe2O3. The calculation of microwave penetration depth shows that Fe2O3 undergoes a transition from a microwave transparent material to a good microwave absorber with increasing temperature.