Relaxor　ferroelectrics　of　Pb(Zn1/3Nb2/3)(0.5)(Zr0.47Ti0.53)(0.5)O-3　(0.5PZN-0.5PZT)　were　prepared　using　the　conventional　oxide　mixing　method.　Both　x-ray　diffraction　analysis　and　Raman　spectroscopy　indicate　that　the　amounts　of　rhombohedral　phase　are　close　to　tetragonal　phase,　implying　the　presence　of　the　morphotropic　phase　boundary　(MPB)　in　the　system　of　0.5PZN-0.5PZT,　and　this　result　was　further　confirmed　by　transmission　electron　microscopy　(TEM)　micrographs.　At　MPB　composition,　the　excellent　piezoelectric　properties,　such　as　k(p)　(0.66)　and　d(33)　(425pC/N),　were　obtained　due　to　the　more　possible　polarization　directions　of　domains　and　high　dc　resistivity　of　6.5　x　10(10)　Omega.cm.　Meanwhile,　the　dielectric　studies　revealed　that　the　indicator　of　the　degree　of　diffuseness　gamma　value　is　1.73,　implying　the　relaxor　nature　of　the　0.5PZN-0.5PZT　ceramic.　The　activation　energy　related　to　the　dc　conductivity　was　estimated　from　a　linear　fitting　of　the　Arrhenius　law.　The　value　of　0.09　and　1.04　eV　for　low　and　high　temperature　range　corresponds　well　to　the　activation　energies　of　migration　and　first　ionization　of　the　oxygen　vacancies.