We present here the detailed structural, magnetic, and magnetodielectric properties of polycrystalline DyFe0.5Cr0.5O3. Rietveld refinement reveals that DyFe0.5Cr0.5O3 crystallizes in an orthorhombic structure, with Pnma space group, having a disordered arrangement of Fe and Cr ions. An anomaly observed around 250K in the temperature dependence of magnetization indicates an onset of magnetic ordering. The field dependent magnetization of DyFe0.5Cr 0.5O3 at 13K, 120K, and 240K has a small loop indicating weak ferromagnetic nature and the corresponding curve at 5K indicates a metamagnetic behavior. The small loop and the unsaturated magnetization even for a high applied magnetic field of 7T indicate a canted antiferromagnetic structure, the canting can be explained due to Dzyaloshinsky-Moriya antisymmetric exchange interaction. The temperature dependence of the dielectric permittivity shows a transition around 500K. An anomaly in the temperature dependence of magnetization (supported by differential scanning calorimetry) corresponding to this dielectric transition suggests the possibility of magnetodielectric effect in DyFe0.5Cr0.5O3. © 2014 AIP Publishing LLC.