We analyze photometric and spectroscopic data and study the orbital period of the early-type interacting binary system V382 Cyg by using all the available data. We obtain a simultaneous light and radial velocity curve solution. The derived physical parameters of the primary and secondary stellar components are M_1_=27.9(5)M_{sun}_, M_2_=20.8(4)M_{sun}_, R_1_=9.7(2)R_{sun}_, R_2_=8.5(2)R_{sun}_, log(L_1_/L_{sun}_)=5.152(20), and log(L_2_/L_{sun}_)=4.954(19) while the separation of the components is a=23.4R_{sun}_. Newly obtained parameters yield the distance of the system to be 1466(76)pc. Analyses of the mid-eclipse times indicate a period increase of dP/dt=4.2(1)x10^-7^days/yr that can be interpreted in terms of the high-mass transfer (dM/dt=6.1(5)x10^-6^M_{sun}_/yr) from the less massive component to the more massive component. Finally, we model the evolution of the components using non-conservative codes and discuss the results obtained. The age of the binary system is estimated to be 3.85Myr.