A novel perovskite-type oxide PbFeO3 was successfully synthesized under a pressure as high as 7GPa, and the crystal structure, oxidation state, thermal stability, magnetic and dielectric properties were investigated. PbFeO3 possesses an orthorhombic perovskite unit cell and there is no phase transition between room temperature and 570 K. This compound decomposes into Pb2Fe2O5 in the vicinity of 740 K in air. According to XPS, it was found that this compound includes the Pb2+, Pb4+, and Fe3+ ions.