The Galactic transient black hole candidate (BHC) GX 339-4 exhibited several outbursts at regular intervals of about two to three years in the Rossi X-ray Timing Explorer (RXTE) era. After remaining in an almost quiescent state for three long years, it again became X-ray active in January, 2010, continuing to be so over the next ~14 months. We study the timing and spectral properties of the BHC during its recent outburst and understand the behavioral change in the accretion flow dynamics associated with the evolution of the various X-ray features. The detailed analysis of the temporal and spectral properties of the source during this outburst are carried out using archival data of the RXTE PCA instrument. We analyze a total of 236 observational intervals consisting of 419 days of data observed by RXTE, from 2010 January 12 to 2011 March 6.