Glass system of composition Li2O-Na2O-B2O3: Fe2O3with replacing alkali oxides one by another have been prepared via melt quenching. Further, the samples were characterized by X-ray diffraction. XRD studies have indicated that the prepared samples were amorphous in nature. Dielectric properties (constant ε , loss tan δ, a.c. conductivity σacover a wide range of frequency and temperature) of these glasses have also been explored. The activation energy for ac conduction is estimated to be the lowest for glass F25and the highest for glass F0. Finally the study on dielectric properties indicated that the ac conduction is predominantly ionic in nature in the samples containing high content of Li2O.Keywords:Borate glasses; dielectric properties; alkali effect