In this work, a tissue equivalent compound phantom with dielectric properties equivalent to an average human body surface has been developed for a low frequency operating range of 30 MHz to 200 MHz. The compound phantom consists of skin, fat, and muscle layers respectively. The phantom is simple to fabricate with low cost components. A custom coaxial test fixture has been developed to characteristic phantom dielectric properties, which eliminates use of a specialized expensive dielectric measurement probe. The proposed composite phantom can be used as a noninvasive technique to evaluate shallow biomedical implants, antenna-body interaction, and specific absorption rate of tissue media.