This work presents the results of investigations of the glass described by the formula 28.2Li(2)O center dot 35.2FeO center dot 8.4V(2)O(5)center dot 28.2P(2)O(5) before and after nanocrystallization. The starting glassy material was prepared by melt-quenching method. Annealing at temperatures higher than 470 degrees C resulted in formation of the nanocrystalline structure. The X-ray analysis of the nanomaterial revealed the presence of LiFePO4 and Li3V2(PO4)(3) crystalline phases in the glassy matrix. The grain size, estimated using the Scherrer method was in the range of 34 - 66 nm for LiFePO4 and 40 - 51 nm for Li3V2(PO4)(3) , for material annealed at 500 degrees C. The DSC investigations revealed two exothermic processes, which were ascribed to crystallization of different phases. After formation of the nanocrystalline phase, the gigantic increase of electrical conductivity at room temperature by the factor 108 is observed. Because the investigation has not found any evidences indicating the presence of metallic phases in the nanocrystallized material, the gigantic enhancement of electrical conductivity was attributed to nanocrystallites precipitation. (C) 2014 Published by Elsevier Ltd.