Disclosed is an SrTiO.sub.3 -based grain boundary barrier layer capacitor which is superb in dielectric constant and temperature characteristics. It is prepared by infiltrating a liquid-phase oxide mixture into a donor-doped SrTiO.sub.3 matrix to form second-phase dielectric layers at the grain boundaries of the matrix. The liquid-phase oxide mixture comprises CaO and BaO in a particular molar ratio. The SrTiO.sub.3 -based grain boundary barrier capacitor exhibits a high dielectric constant and a low dieletric loss with stable temperature characteristics.