We have synthesized and investigated the magnetic and transport properties of a series of compounds, R2CoIn8 (R = rare earth). Compounds form in single phase with a tetragonal structure (space group P4/mmm, no. 162). The Ce compound shows heavy fermion behavior. The magnetic susceptibility of Pr2CoIn8 shows a marked deviation from the Curie-Weiss behavior at low temperatures, which is attributed to the crystalline electric field effects. Heat capacity and magnetization measurements show that Dy2CoIn8 undergoes a magnetic transition at 17 K and a second transition near 5 K, the latter of which may be due to spin reorientation. Magnetization of this compound shows two metamagnetic transitions approximately at 3.6 T and 8.3 T.