Magnetic permeability (μ), dielectric permittivity (ε) and electrical conductivity (σ) of the six elastomer samples obtained by mixing silicone rubber (RTV-530) with a kerosene-based ferrofluid in different volume fractions, φ: 1.31%, 2.59% and 3.84%, were determined using the complex impedance measurements, over the frequency range (500 Hz-2 MHz). Three samples (A0, B0 and C0) were manufactured in the absence of a magnetic field and the other three samples (Ah, Bh and Ch) in the presence of the magnetic field, H=43 kA/m. The component μ″ of the complex magnetic permeability of all samples presents a maximum, at a frequency fmax, which moves to higher values by increasing, φ, this maximum being attributed to Brownian relaxation processes. The conductivity spectrum, σ(f) for all samples, follows the Jonscher universal law, which allows both the determination of the static conductivity σDC, and the barrier energy of electrical conduction process, Wm. For the same φ, Wm is lower and σDC is higher in the samples Ah, Bh and Ch than in the samples A0, B0 and C0. The performed study is useful in manufacturing elastomers with predetermined properties and for possible applications, such as magneto-dielectric flexible electronic devices, which can be controlled by the volume fraction of particles or by an external magnetic field.