The dielectric constant and the dielectric loss of potassium acetylacetonate, K(acac), are measured as a function of both temperature and frequency. A peak value is obtained at the a critical temperature T^ = 313 K. X-ray analysis revealed that at Τ , K(acac) undergoes phase transition from orthorhombic to triclinic structure. The Cole-Cole diagrams have been used to determine the molecular relaxation time τ. The temperature dependence of τ is expressed by thermally activated process. The impedance spectra in the frequency range from 50 Hz to 500 kHz plotted in the complex plane show semicircles. The conduction mechanism, below Τc , is predominantly operating at the surface. Above Τc , the conduction is proceeding in the bulk material with contribution from the surface.