The electrical responses of Zn-Bi-Co-Mn-Ti system low-voltage varistor ceramics were prepared by solid-state reaction method and were analyzed by AC impedance spectroscopy over a wide range of temperature (100~270°C) in the frequency range of 40~13MHz. The equivalent circuit adopts R (RQ)(RC) model. Imaginary part of impedance and modulus with frequency plot exhibits the varistor ceramics including resistance and capacitance. Impedance analysis enables us to separate the contributions from grains and grain boundaries of our samples. It indicates that grain boundary impedance is the main contributor for ceramic resistance, and grain boundary relaxation effects are most obvious in Zn-Bi-Co-Mn-Ti system. The AC grain boundary conductivity activation energy is attributed to the motion of oxygen vacancies within the bulk, and calculated by Arrhenius equation.