The complex of oxovanadium(IV) with acetylacetone bis-thiosemicarbazone (H2thioacac) ligand was synthesized and characterized on the basic of IR, UV-Vis, 1H-NMR and ESI-MS spectral data. The complex has antibacterial activity against Bacillus cereus, Staphylococcus aureaus and of the free ligand with Bacillus cereus, Salmonella typhimurium, Staphylococcus aureaus. Oxovanadium(IV) complex showed in vitro antitumor activity against Hep-G2 and LV cell lines, with IC50 3.813 ug/ml and 4.847 ug/ml, respectively.