This article highlights the influence of ternary material combination of thermoelectric 0.5Bi2Te3 (BT), ferroelectric 0.5(PLZT9/65/35) (PLZT) nanopowders dispersed in polymer PVDF matrix to form a 0.5Bi2Te3-0.5[Pb0.91La0.09(Zr0.65Ti0.35)0.9775O3]-PVDF nanocomposite thin film. BT and PLZT were prepared by using simple precipitation method to form 0.5BT-0.5PLZT-PVDF nanocomposite thin film. As heat treated BT and PLZT were characterized for phase analysis by powder X-ray diffraction, and microstructure studies by scanning electron microscopy and transmission electron microscopy. Nanocomposite thin films were characterized for room temperature dielectric, thermoelectric and ferroelectric studies. XRD patterns attested clear crystalline mixture of Bi2Te3 trigonal showing rhombohedral structure and perovskite PLZT showing ternary FERH, FETET, and FECUBIC structures at the morphotrophic phase boundary. SEM with EDS and TEM results of thermoelectric Bi2Te3, ferroelectric (PLZT:9/65/35) and 0.5Bi2Te3-0.5[Pb0.91La0.09(Zr0.65Ti0.35)0.9775O3] are reported. The nanoparticles of this system ranged between 17 nm and 82 nm. Dielectric, thermoelectric and ferroelectric results of the 0.5Bi2Te3-0.5[Pb0.91La0.09(Zr0.65Ti0.35)0.9775O3]-PVDF nanocomposite thin film was discussed. The remanent and spontaneous polarization and coercive field of BT-PLZT-PVDF film are observed as 2.52 µC/cm², 3.28 µC/cm and 196.63 kV/cm, respectively that could be interesting candidate for possible futuristic energy harvesting, biomedical and smart applications.