Versatile and gigantic magnetoelectric (ME) phenomena have been found for a single crystal of DyFeO3. Below the antiferromagnetic ordering temperature of Dy moments, a linear-ME tensor component as large as alphazz approximately 2.4 x 10(-2) esu is observed. It is also revealed that application of magnetic field along the c axis induces a multiferroic (weakly ferromagnetic and ferroelectric) phase with magnetization [> or =0.5 microB/formula unit (f.u.)] and electric polarization (> or =0.2 microC/cm2) both along the c axis. Exchange striction working between adjacent Fe3+ and Dy3+ layers with the respective layered antiferromagnetic components is proposed as the origin of the ferroelectric polarization in the multiferroic phase.