Induced polarization measurements can be used to image alteration at the scale of volcanic edifices to a depth of few kilometers. Such a goal cannot be achieved with electrical conductivity alone, because too many textural and environmental parameters influence the electrical conductivity of volcanic rocks. We investigate the spectral induced polarization measurements (complex conductivity) in the frequency band 10 mHz-45 kHz of 85 core samples from five volcanoes: Merapi and Papandayan in Indonesia (32 samples), Furnas in Portugal (5 samples), Yellowstone in the USA (26 samples), and Whakaari (White Island) in New Zealand (22 samples). This collection of samples covers not only different rock compositions (basaltic andesite, andesite, trachyte and rhyolite), but also various degrees of alteration. The specific surface area is found to be correlated to the cation exchange capacity (CEC) of the samples measured by the cobalthexamine method, both serving as rough proxies of the hydro-thermal alteration experienced by these materials. The in-phase (real) conductivity of the samples is the sum of a bulk contribution associated with conduction in the pore network and a surface conductivity that increases with alteration. The quadrature conductivity and the normalized chargeability are two parameters related to the polarization of the electrical double layer coating the minerals of the volcanic rocks. Both parameters increase with the degree of alteration. The surface conductivity, the quadrature conductivity, and the normalized chargeability (defined as the difference between the in-phase conductivity at high and low frequencies) are linearly correlated to the CEC normalized by the bulk tortuosity of the pore space. The effects of temperature and pyrite-content are also investigated and can be understood in terms of a physics-based model. Finally, we performed a numerical study of the use of induced polarization to image the normalized chargeability of a volcanic edifice. Induced polarization tomography can be used to map alteration of volcanic edifices with applications to geohazard mapping.