Abstract: Ternary FeCl3NiCl2GICs were synthesized by the molten salt method. Natural graphite powder was used as host material and a mixture of FeCl3 and NiCl2 as intercalant. The stage structure，surface topography and components of the GICs were studied by XRD, SEM and EDS. The electrical conductivity and electromagnetic parameters were determined by a transmission reflection network analyzer. Results show that the host graphite is expanded and its edges are eroded badly during intercalation. The degree of erosion levels off with an increase of stage number. For the FeCl3NiCl2GICs with different stages, the distribution of Cl is uniform in the graphite layers, while Fe and Ni is nonuniformly distributed in every flake. The percentage of Fe increases from the edge to the center of the FeCl3NiCl2GICs flake while Ni shows the opposite behavior. The resistivity of the FeCl3NiCl2GICs decreases first, then increases with an increase in stage number. The GICs have relatively good microwave absorption properties and their maximum theoretical reflection loss first decreases, then increases with increasing stage number. Stageone FeCl3NiCl2GICs has the highest reflection loss, which is -10.3dB when the thickness is 2mm.