The sign and the magnitude of the dielectric anisotropy of an ytterbiumbased paramagnetic nematic liquid crystal complex, namely, tris[1(4(4propylcyclohexyl)phenyl)octane1,3dione][5,5'di(heptadecile)2,2'bipyridine]ytterbium, are determined. The temperature dependence of the permittivity components of the complex is obtained in the temperature range of a nematic phase. The sign of the anisotropy of the magnetic susceptibility of this compound is experimentally determined.