Parallel-plate Ba 0.25 Sr 0.75 TiO 3 (BST) varactors with record high Q-factor are fabricated on Si substrate. At 45 GHz the Q-factor is about 40 and tuneability at 25 V is more than 40 % in the measured frequency range 0.045-45 GHz. These parameters are comparable or far better than corresponding parameters of best Si and GaAs analogues. The improvement in Q-factor is achieved by using thick bottom electrode consisting of Pt(50 nm)/Au(0.5 µm) allowing to reduce the microwave losses in metal layers. However, the measured loss tangent of varactor is about one order of magnitude more than SrTiO 3 single crystal, indicating that there is a room for further improvement of the Q-factor. The analysis of dielectric dispersion of BST film allows to assume that the dielectric loss is associated with charged defects. The dc current through varactor is found to be controlled by Poole-Frenkel mechanism associated with the field enhanced thermal excitation of charge carriers from internal traps, possibly ascribed to be oxygen vacancies. The varactors can be used above 10 GHz to develop different high performance tuneable microwave devices integrated with Si substrates.