A new U-based compound of the U2Rh2Pb, a new compound of the U2T2X series was prepared in a single-crystal form. Its structure was determined as belonging to the tetragonal Mo2FeB2 structure type with the shortest U-U spacing along the c. U2Rh2Pb undergoes an antiferromagnetic transition at TN of 20 K and exhibits an enhanced Sommerfeld coefficient 150 mJ/molK2. In contrast to the two rhodium analogues U2Rh2In and U2Rh2Sn, the easy-magnetization direction is the c with rather low value of the critical field 4.3 T of the metamagnetic transition of a spin-flip type. The observed dependences of TN and Hc on temperature and magnetic field have been used for constructing a magnetic phase diagram. The experimental observations are mostly supported by first-principles calculations.