Impedance spectroscopy is an effective method to investigate physical properties of multicomponent systems so that contributions of individual components can be extracted from different sections of the spectra, which is frequency dependent. Slurries can be considered as 0–3 mixed systems containing a host liquid and dispersed particles. It was shown that low-frequency part of impedance spectra is sensitive to dielectric properties of dispersed particles. Applicability of this technique was extended using various dielectric powders dispersed in appropriate liquids. Characterization of slurries by impedance spectroscopy through applying of equivalent circuit models allows a reliable measurement of dielectric constant of particulate materials and liquids.