First spectroscopic and new photometric observations of the eclipsing binary FM Leo are presented. The main aims were to determine orbital and stellar parameters of two components and their evolutionary stage. First spectroscopic observations of the system were obtained with DDO and PST spectrographs. The results of the orbital solution from radial velocity curves are combined with those derived from the light-curve analysis (ASAS-3 photometry and supplementary observations of eclipses with 1 m and 0.35 m telescopes) to derive orbital and stellar parameters. JKTEBOP, Wilson-Devinney binary modelling codes and a two-dimensional cross-correlation (TODCOR) method were applied for the analysis. We find the masses to be M_1 = 1.318 $pm$ 0.007 and M_2 = 1.287 $pm$ 0.007 M_sun, the radii to be R_1 = 1.648 $pm$ 0.043 and R_2 = 1.511 $pm$ 0.049 R_sun for primary and secondary stars, respectively. The evolutionary stage of the system is briefly discussed by comparing physical parameters with current stellar evolution models. We find the components are located at the main sequence, with an age of about 3 Gyr.
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