Transparent glass composites in the system (100βx)Li2βB4βO7ββxSrBi2βNb2βO9β (where x = 5, 10, 15, 20, 25, and 30, in molar ratio) were fabricated by conventional melt-quenching technique. The amorphous nature of the as-quenched glass composites was confirmed via X-ray powder diffraction (XRD) studies. Differential thermal analyses (DTA) established the glassy nature of the as-quenched samples. Glass nanocomposites (GNC's) with high-optical transparency were obtained by controlled heat-treatment of the glass composites at 750 K/6 h. Perovskite SrBi2βNb2βO9β (SBN) phase formation through an intermediate fluorite phase was confirmed by XRD and transmission electron microscopy (TEM). The dielectric constant (Ο΅rβ) in the frequency range from 100 Hz to 40 MHz at room temperature increases whereas dielectric loss (D) decreases with increase in SBN content in Li2βB4βO7β glass matrix. Impedance spectroscopy employed to rationalize the electrical behavior of the as-quenched glasses and glass nanocomposites suggests the coexistence of electronic and ionic conduction in these materials. The optical transmission and band-gap energy of these composites were found to be crystallite size dependent