The novel multiferroic flexible films of Dy₂NiMnO₆ (DNMO) were prepared by incorporating DNMO particles in Polyvinylidene fluoride-based co-polymeric P(VDF-HFP) system. The structural studies validated the crystalline structure of DNMO remains unaffected by the presence of polymer. The scanning electron microscopic image of the composite sample confirms the uniform distribution of DNMO particles in the polymeric matrix. The enhancement in the ferroelectric parameters was observed for the composite sample in comparison with P(VDF-HFP) polymeric film. The composite sample exhibits a large polarization and coercive field at room temperature with enhanced dielectric behavior with reduced dielectric loss. M–H curves of composite show ferromagnetic nature with small increase in coercivity at 5 K. The field- and temperature-dependent magnetic characteristics of DNMO have remained unaltered even though the engagement of P(VDF-HFP) for achieving flexibility. The simultaneous existence of ferroelectric and magnetic order in the flexible DNMO may discover its application in the field of flexible magnetoelectronics.