Titania (TiO2) nanoparticles dispersed transformer oil has high Corona Inception Voltage (CIV) and breakdown strength, and gets further enhanced on insertion of the barrier in the electrode gap. The volume of nanoparticles and the amount of surfactant have a strong influence on the dispersion of nanoparticles in transformer oil and were characterized through viscosity measurement, particle size analysis and by zeta potential measurements. It was also observed that with needle plane configuration, negative DC voltages have high breakdown voltage as compared to positive DC and AC voltages. Improvement in breakdown voltage with barrier can be obtained by placing the barrier at 20-80% of electrode gap from the tip of the high-voltage electrode. The breakdown voltage of needle plane electrode configuration was calculated based on normal distribution parameters. It was observed that the corona activity generates Ultra High Frequency (UHF) signal in the frequency range of 0.7-2 GHZ with its dominant frequency at 0.9 GHz and was characterized using a ternary plot. The discharge activity was studied by using a spectrum analyzer by operating it in zero span mode with 0.9 GHz as center frequency. It was observed that for a given voltage under AC and DC voltages, the magnitude of discharges is less with nanoparticles dispersed transformer oil. A pyrolysis study indicated no variation in the composition of the oil with the addition of titania. It was observed that the esters present in the oils were alkyl substituted oxalic acid and alkyl substituted sulfurous acid esters. © 2017 IEEE.