RXJ 1301.9+2747 is an optically identified very low mass AGN candidate with M_BH~1x10^6M_sun, which shows extremely soft X-ray emission and unusual X-ray variability in the form of short-lived flares. We present an analysis of multiwavelength observations of RXJ 1301.9+2747 in order to study the properties of the active nucleus and its host galaxy. The UV-to-X-ray spectrum in the quiescent state can be well and self-consistently described by a thermal and a Comptonized emission from accretion disk, with blackbody dominating ~70% of the X-rays in the 0.2-2 keV. The same model can describe the X-ray spectrum in the flare state but the Comptonized component becomes dominant (~80%). The best-fit implies an Eddington ratio of ~0.14, and a black hole mass of 1.7-2.8x10^6M_sun, in agreement with the estimation from the optical data within errors. However, the best-fitting model under-predicts the optical flux for the HST point source by a factor of ~2. The excess of nuclear optical emission could be attributed to a nuclear stellar cluster which is frequently seen in low mass AGNs. The X-ray to optical spectral slope (alpha_ox) is lower than in most other active galaxies, which may be attributed to intrinsically X-ray weakness due to very little hot and optically thin coronal emission. We performed a pilot search for weak or hidden broad emission lines using optical spectropolarimetry observations, but no any polarized broad lines are detected. The host galaxy appears to be a disk galaxy with a boxy pseudobulge or nuclear bar accounting for ~15% of the total starlight, which is consistent with the general characteristics of the host of low mass AGNs.