We present broad band photometry and spectroscopic observations of the host galaxy of GRB 030329. Analysis of the spectral emission lines shows that the host is likely a low metallicity galaxy (Z~0.004). The spectral energy distribution (SED) constructed with the photometric points has been fitted using synthetic and observational templates. The best SED fit is obtained with a starburst template with an age of ~150 Myr and an extinction Av~0.6. We find that the GRB 030329 host galaxy is a subluminous galaxy (L~0.016 L*) with a stellar mass of >~10^8 Mo. Three independent diagnostics, based on the restframe UV continuum, the [OII], and the Balmer emission lines, provide a consistent unextincted star formation rate of ~0.6 Mo yr^-1, implying a high unextincted specific star formation rate (~34 Mo yr^-1 (L/L*)^-1). We estimate that the unextincted specific star formation rate of the GRB 030329 host is higher than ~93.5% of the galaxies at a similar redshift.
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