New UBVR photoelectric observations of the eclipsing variable star V 456 Cyg of Algol type were obtained at the Maidanak Observatory in 1999—2003. The new ephemeris of the binary is: Min I = JDH2444911.3592(7) + 0.89119484(14)^dE + 0.15(l)^d⋅10^-9⋅E². All of the light curves of the star V456 Cyg were solved by Lavrov's direct method, and elements of the photometric orbit were calculated. The results obtained in R-curve are different from data for other ones. We estimated the absolute basic parameters of the components: M₁ = 2.0M_☉, M₂ = 1.7M_☉, R₁ = 1.7R_☉, R₂ = 1.6R_☉, M_1,bol = +1.7^m, M_2,bol = +2.5^m. The components do not reach ZAMS in the H—R diagram and their age is 10⁷ yrs. The distance for the star V456 Cyg is about 600 pc. The star lies in a well-maked OB-stars group separated by a distance of about 500 pc in the direction of the OB-association Cyg OBl.