We present results from our X-ray data analysis of the supernova remnant ( SNR ) G330.2+1.0 and its central compact object ( CCO ) , CXOU J160103.1–513353 ( J1601 hereafter ) . Using our XMM-Newton and Chandra observations , we find that the X-ray spectrum of J1601 can be described by neutron star atmosphere models ( T ^ { \infty } \sim 2.5–5.5 MK ) . Assuming the distance of d \sim 5 kpc for J1601 as estimated for SNR G330.2+1.0 , a small emission region of R \sim 0.4–2 km is implied . X-ray pulsations previously suggested by Chandra are not confirmed by the XMM-Newton data , and are likely not real . However , our timing analysis of the XMM-Newton data is limited by poor photon statistics , and thus pulsations with a relatively low amplitude ( i.e. , an intrinsic pulsed-fraction < 40 % ) can not be ruled out . Our results indicate that J1601 is a CCO similar to that in the Cassiopeia A SNR . X-ray emission from SNR G330.2+1.0 is dominated by power law continuum ( \Gamma \sim 2.1–2.5 ) which primarily originates from thin filaments along the boundary shell . This X-ray spectrum implies synchrotron radiation from shock-accelerated electrons with an exponential roll-off frequency \nu _ { rolloff } \sim 2–3 \times 10 ^ { 17 } Hz . For the measured widths of the X-ray filaments ( D \sim 0.3 pc ) and the estimated shock velocity ( v _ { s } \sim a few \times 10 ^ { 3 } km s ^ { -1 } ) , a downstream magnetic field B \sim 10–50 \mu G is derived . The estimated maximum electron energy E _ { max } \sim 27–38 TeV suggests that G330.2+1.0 is a candidate TeV \gamma -ray source . We detect faint thermal X-ray emission in G330.2+1.0 . We estimate a low preshock density n _ { 0 } \sim 0.1 cm ^ { -3 } , which suggests a dominant contribution from an inverse Compton mechanism ( than the proton-proton collision ) to the prospective \gamma -ray emission . Follow-up deep radio , X-ray , and \gamma -ray observations will be essential to reveal the details of the shock parameters and the nature of particle accelerations in this SNR .