We have investigated the structure, magnetic and dielectric properties of PVDF-La0.7Sr0.3MnO3 polymer nanocomposite thick film fabricated by dip coating technique along with the magnetodielectric effect. The structure and dielectric properties show the enhanced β phase in the composite compared to the PVDF film. The coupling between the ferroelectric and magnetic phases in the composite is revealed in the form of dielectric anomaly at the ferromagnetic Curie temperature. We observed 1.9% magnetodielectric effect at 300 K with the possibility of enhanced effect near the transition temperature. In addition, the analysis of the electric modulus indicates that the composite exhibits interfacial related relaxation and it follows Arrhenius Law. Our study suggests that the ac conductivity of the PVDF-La0.7Sr0.3MnO3 composite could be explained by correlated barrier hopping mechanism. © 2013 © 2013 Author(s).