An analysis of an extensive collection of photometric and spectroscopic observations of the little studied bright Be star V360 Lac lead to the following main conclusions: (1) V360 Lac is a binary system consisting of a B3e primary and a F9IV secondary which probably fills the Roche lobe and losses mass towards the primary. Radial-velocity curves of both components were obtained. (2) The light variations arise from superposition of variations on at least three time scales: phase-locked orbital brightness and colour changes with two minima; sinusoidal variation with a 322.24^d^ period and low-amplitude rapid changes with a possible period of 1.6738^d^. (3) A tentative solution of the B and V light curves which assumes the semi-detached configuration and presence of a disk around the primary, combined with the orbital solution, leads to preliminary basic physical elements of the system which are consistent with the radiative properties of the binary components.