We wish to map the magnetic field geometry and to study the dust properties of the starless cloud, L1570, using multiwavelength optical polarimetry and photometry of the stars projected on the cloud. We made R-band imaging polarimetry of the stars projected on a cloud, L1570, to trace the magnetic field orientation. We also made multi-wavelength polarimetric and photometric observations to constrain the properties of dust in L1570. We estimated a distance of 394+/-70pc to the cloud using 2MASS JHKs colours. Using the values of the Serkowskiparameters namely {sigma}_1_, {overline}{epsilon}, {lambda}_max_ and the position of the stars on near infrared color-color diagram, we identified 13 stars that could possibly have intrinsic polarization and/or rotation in their polarization angles. One star, 2MASS J06075075+1934177, which is a B4Ve spectral type, show the presence of diffuse interstellar bands in the spectrum apart from showing H_{alpha} line in emission. There is an indication for the presence of slightly bigger dust grains towards L1570 on the basis of the dust grain size-indicators such as {lambda}_max_ and R_V_ values. The magnetic field lines are found to be parallel to the cloud structures seen in the 250um images (also in 8um and 12um shadow images) of L1570. Based on the magnetic field geometry, the cloud structure and the complex velocity structure, we believe that L1570 is in the process of formation due to the converging flow material mediated by the magnetic field lines. Structure function analysis showed that in the L1570 cloud region the large scale magnetic fields are stronger when compared with the turbulent component of magnetic fields. The estimated magnetic field strengths suggest that the L1570 cloud region is sub-critical and hence could be strongly supported by the magnetic field lines.