We have investigated a new ferrite-ceramic composite material with inductive and capacitive properties fabricated by a solid-state reaction method. We analyse the effects of the composite mechanism and microstructure on the magnetic and electric properties. The results show that the new materials can be used not only as inductor materials, but also as capacitor materials in the wide frequency range of 1 kHz-1.8GHz. The real part of permeability of the composite material is between 10 and 5.6, the imaginary part of permeability is between 1.2 and 0.5, and the dielectric constant is about ten times larger than that of ordinary ferrite materials. It is suggested that the new composite materials will be widely used in anti-electromagnetic interference fields and radio frequency communication fields