Analytic presentation of frequency dependence of complex initial permeability (CIP) of polycrystalline ferrites (PF) within their most typical – large amplitude dispersion region at radiofrequencies still involves considerable problems. The difficulties arise from the fact that the dispersion of CIP manifests itself within a broad range of frequency and yet exhibits several attributes of resonance. Now the best suited to experiments is the presentation of CIP by formal combination of two relationships – simple relaxation and resonance ones. But such a presentation of CIP is highly implicit and limited. More appropriate presentation there is worked out in fact on the basis of starting fundamental idea [A. Fairweather, at all. Rep. Prog. Phys., 1952, vol.15, p. 160] that “in a material which is not magnetically homogeneous, it is plausible that the resonant frequency is, in general, different in different elementary volumes”. This conception has been brought up to analytic relationship for CIP by principle assumption that the elementary volumes are that ones formed by polycrystal grains, that the resonating objects are domain walls within grains, that the magnetization process in elementary volumes is resembling the ones observed for variety of samples with different average grain size. Statistical averaging over the aggregate of grains – PF sample gives, e.g., the log-normal type relation for the absorption component of CIP. The results gained may found wide use.