Results of AC conductivity of the granular nanocomposites consisting of amorphous ferromagnetic alloy nanoparticles (Fe0.45Co0.45Zr0.10) embedded into amorphous dielectric matrix (Al2O3) are presented and analyzed here. Conductivity measurements were made for the samples of different metal-to-dielectric ratio x (25 < x < 65 at.%) in the frequency range of 0.1-1000 kHz at temperature of 80-340 K. Real part of AC conductance at low frequencies (f a parts per thousand currency sign 5 kHz) have shown temperature dependencies sigma(real)(T) corresponding to Mott hopping regime at x below the percolation threshold and metallic one beyond the percolation threshold. It was shown that sigma(real)(T) dependencies satisfactorily follow the known relations of 3D percolate models with critical indexes t a parts per thousand 1.6, q a parts per thousand 0.9, and s = 0.62. The numerical estimations of the density of localized states N(E (F)) displayed a tendency to be decreased with x increase and the electron wave-function localization length a was about 11 nm.