Polycrystalline samples of Pb(Mg1/4Zn1/4Nb1/2)O11/4 have been synthesized by high temperature columbite precursor solid state reaction technique. Using X-ray diffraction (XRD) technique, compound formation in single phase cubic structure was observed and XRD analysis provided preliminary structural data. Detailed studies of dielectric properties of the compound reveal that this compound has high dielectric constant and diffuse phase transition in a wide range of temperatures around the Curie temperature. The charge deficiency of the compound presumably gets compensated in the high temperature columbite precursor process of sample preparation which is supported by single phasic form of the material.