Based on a deep optical CCD (UBV(RI)_C) photometric survey and on the Two-Micron All-Sky-Survey (2MASS) data we derived the main parameters of the open cluster NGC 2401. We found this cluster is placed at 6.3 $pm$ 0.5 kpc (V_O - M_V = 14.0 pm 0.2) from the Sun and is 25 Myr old, what allows us to identify NGC 2401 as a member of the young population belonging to the innermost side of the extension of the Norma-Cygnus spiral--arm in the Third Galactic Quadrant. A spectroscopic study of the emission star LSS 440 that lies in the cluster area revealed it is a B0Ve star; however, we could not confirm it is a cluster member. We also constructed the cluster luminosity function (LF) down to $V sim 22$ and the cluster initial mass function (IMF) for all stars with masses above $M sim 1-2 M_{sun}$. It was found that the slope of the cluster IMF is $x approx 1.8 pm 0.2$. The presence of a probable PMS star population associated to the cluster is weakly revealed.
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