The components of the dielectric constant of a terbium-based liquid-crystalline complex have been measured in the frequency range of 350–5 × 106 Hz. The magnitude and sign of the dielectric anisotropy of the complex have been determined. Dispersion of the dielectric constants in the liquid-crystalline and isotropic phases has been found. The mechanisms responsible for the relaxation phenomena that appear in the studied sample have been determined. The time of dielectric relaxation, the activation energy, and the dipole moment of the complex have been obtained.