X-ray diffraction studies reveal Pnma space group for YFe 0.5Cr0.5O3. The Neel temperature for YFe 0.5Cr0.5O3 is found to be ∼275 K using temperature dependence of magnetization and neutron diffraction studies. The variation of magnetization with applied magnetic field shows a hysteresis loop at 20 K, which depicts a weak ferromagnetic behavior. Rietveld refinement of the neutron diffraction data divulge a canted antiferromagnetic structure (Γ4 = GzFyAx) for YFe 0.5Cr0.5O3. Dielectric measurement depicts a relaxor like transition (peak at ∼507 K for 10 kHz) for YFe 0.5Cr0.5O3. An anomaly in the magnetization curve around this transition temperature points the possibility of magnetodielectric effect in YFe0.5Cr0.5O3. Non-Debye type relaxation is observed with activation energy of 0.40 eV at low temperature and 1.01 eV at high temperature. At high temperatures, oxygen ion vacancies are found to contribute to the conduction process in addition to polaron hopping. © 2013 AIP Publishing LLC.