Bi3.4La0.6Ti3O12/CoFe2O4 bilayer films were synthesized by chemical solution method and deposited by spin coating on Pt (Pt/TiO2/SiO2/Si) substrate. X-ray diffraction of the bilayer system revealed the composite-like structure. The leakage current is less than 10−7 A at electric field below100 kV/cm, and it shows the ohmic behavior. Dielectric constant decreases with increasing frequency and reaches to 140 at 10−6 Hz. Bi3.4La0.6Ti3O12/CoFe2O4 system shows the co-existence of ferroelectric polarization (Pr) = 51 μC/cm2 and magnetization (Mr) = 206 emu/cm3 at room temperature. Observed ferromagnetic and ferroelectric responses in bilayer system may be useful for bi-functional devices.