The dinuclear iron complexes have received a great attention due to their relevance to diverse fields ranging from bioinorganic chemistry to molecular magnetism. They are also important as synthetic models of iron-containing enzymes and for understanding of magneto-structural correlations in polynuclear systems [1, 2]. The magnetic properties of new dinuclear complex [Fe2(H2hcnaftpn)2(OCH3)2]x4H2O (1) (where H4hcnaftpn - compartmental ligand, N,N’-bis-(2hydroxy-3-carboxy-naphthylidene)propane-1,2-diamine). Crystal structure of the complex [3] showed that two iron(III) ions are symmetrically bridged by two metoxo groups with Fe ...Fe distance of 3.189Å and Fe-O-Fe angle of 104.5o. The Fe-O distances in coordination surrounding of metal are in the range 2.007-2.032 Å. The variable temperature magnetic measurements were performed on a polycrystalline powder in the temperature range 2 – 300 K. M vs H curves measured at different temperatures reveal zero coercivity. The full reversibility was also observed for the thermal dependences of ZFC and FC magnetization measured at H= 100 Oe and 1 kOe. The value of χ T is ~6.7 cm3 K mol-1 at 300 K (lower than the expected -T - 8.7 cm3 K mol-1 for two magnetically isolated S = 5/2 Fe(III) ions) and with cooling down it gradually decreases reaching ~0.9 cm3 K mol-1 at 2 K, indicating antiferromagnetic interactions between Fe(III) ions. The molar magnetic susceptibility data can be the best described with an analytical expression for coupled high spin Fe(III) – Fe(III) dimers (S1 = S2 = 5/2) based on an isotropic spin Hamiltonian H = - J(S1-S2). The determined exchange coupling constant J of the complex studied is ~ -22 cm-1 which is typical of dinuclear iron(III) doubly methoxo-bridged complexes with similar structural features [1].