New photometric data from CCD UBVRI observations of the PMS star V350 Cep during the period from March 2014 to May 2017 are presented. In the period April-May 2016 we registered a deep fades event in the brightness of the star with amplitudes $Delta I$ = 1.75 mag, $Delta R$ = 1.69 mag, $Delta V$ = 1.77 mag and $Delta B$ = 2.16 mag. Simultaneously with the fades in the brightness, the change in the stars color indices has been observed. V350 Cep indicates the typical for stars of UXor type blueing effect during the deep minimum of brightness. During the second half of 2016 V350 Cep restores its brightness to a level close to the maximum. Since the star has been studied as a possible FUor object in previous studies, the possible cause of the deep decline is a decrease in the accretion rate. Another possible cause is obscuration from clumps of dust orbiting at the vicinity of the star.
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