The structural and magnetic properties of DyFe11.2Nb0.8 compound have been investigated by high intensity, high resolution synchrotron x-ray diffraction, ac magnetic susceptibility, and dc magnetization measurements as well as Mössbauer spectroscopy (5–300 K). The easy magnetization direction at room temperature is along the c-axis. With decreasing temperature, the magnetocrystalline anisotropy changes from easy-axis to easy-cone at Tsr2 (∼202 K), then to easy plane at Tsr1 (∼94 K). The thermal expansion coefficient obtained from the synchrotron x-ray study exhibits clear anomalies around both of the spin reorientation transition temperatures. The 57Fe hyperfine interaction parameters and magnetic moments values have been determined for the 8i, 8j, and 8f sites from the Mössbauer spectra.