In this study, in order to develop the lead-free piezoelectric ceramics with high piezoelectric and dielectric properties, $[(K_{0.5}Na_{0.5})_{0.95}Li_{0.05}(Nb_{0.96}Sb_{0.04})]O_3$ ceramics were fabricated using $Ag_2O$ as sintering aid and a conventional mixed oxide process and their piezoelectric and dielectric characteristics were investigated according to the $SrTiO_3$ substitution. $SrTiO_3$ substitution enhanced density, dielectric constant(${varepsilon}_r$) and electromechanical coupling factor($k_p$). However, mechanical quality factor was deteriorated. And also, Curie temperature ($T_c$), and phase transition temperature($T_p$) were rapidly decreased. At the 0.5 mol% $SrTiO_3$ substitution, density, electromechanical coupling factor($k_p$), dielectric constant(${varepsilon}_r$) and piezoelectric constant($d_{33}$) of specimen showed the optimum value of $4.437;g/cm^3$, 0.457, 1294, 265 pC/N, respectively.