The properties of the paraffin-graphite composite are investigated. It is shown that the introduction of a conducting phase into the dielectric allows us to significantly modify the properties of the composite. The formation of dipoles depends on the concentration of the conducting phase and on the presence of an oxide shell that prevents the formation of chains (macrodipoles) of the conductor. The obtained giant values of the real part of the dielectric permittivity of the studied composite are explained by the structural polarization of the heterogeneous dielectric.