We have studied the ac conductivity of insulating $La_{0.7}Sr_{0.3}FeO_3$ in the frequency range 20 Hz-l MHz and in the temperature range 80-300 K. We have analyzed experimental results in the frame works of the quantum-mechanical tunneling mechanism (QMT) and the hopping of barrier mechanism (HOB). We observed that small polaron QMT model is the most suitable mechanism for the low temperature ac conductivity of $La_{0.7}Sr_{0.3}FeO_3$.