To achieve high-power performance in β-Ga₂O₃-based lateral power devices, it is indispensable to ensure a high breakdown voltage and suppress surface channel leakage currents. These requirements can be realized by using semi- insulating substrates with high electrical resistivity. Unintentionally doped (UID) β-Ga₂O₃ typically exhibits n-type conduction due to residual impurities in the source material (such as Si, Sn, and Ge) and oxygen vacancies (Vo) formed during crystal growth. Thus, charge compensation using deep acceptor dopants (such as Mg and Fe) is necessary to trap free electron carriers and obtain high resistivity. In this study, UID (001)-oriented and Fe-doped (100)-oriented β-Ga₂O₃ single crystals were grown using the edge-defined film-fed growth (EFG) method. The crystal orientation, crystal quality, defect morphology, EPD (etch pit density), optical properties, and electrical characteristics were evaluated for β-Ga₂O₃ samples grown with different Fe concentrations (0 mol%, 0.005 mol%, 0.01 mol%, and 0.02 mol%). The results showed that as the Fe doping concentration increased, the EPD increased, leading to a decrease in crystal quality and optical transmittance. On the other hand, SIMS analysis confirmed that for the samples with 0.01 mol% and 0.02 mol% Fe, the Fe dopant concentration was higher than the residual Si impurity concentration. This proves that the Si donors were effectively compensated by the Fe dopants. The electron traps formed by Fe doping significantly reduced the free electron concentration, leading to a large increase in resistivity. As a result, a semi-insulating β-Ga₂O₃ substrate with a high resistivity (r) of 5×10¹¹ Ω·cm (n = 1×10¹⁵ cm⁻³) was successfully demonstrated at a doping condition of 0.02 mol% Fe.