First spectroscopic and new photometric observations of the eclipsing binary FM Leo are presented . The main aims were to determine orbital and stellar parameters of two components and their evolutionary stage . First spectroscopic observations of the system were obtained with DDO and PST spectrographs . The results of the orbital solution from radial velocity curves are combined with those derived from the light-curve analysis ( V -band ASAS-3 photometry and supplementary observations of eclipses with 1 m and 0.35 m telescopes ) to derive orbital and stellar parameters . JKTEBOP , Wilson-Devinney binary modelling codes and a two-dimensional cross-correlation ( TODCOR ) method were applied for the analysis . We find the masses to be M _ { 1 } = 1.318 \pm 0.007 and M _ { 2 } = 1.287 \pm 0.007 \mathrm { M } _ { \sun } , the radii to be R _ { 1 } = 1.648 \pm 0.043 and R _ { 2 } = 1.511 \pm 0.049 \mathrm { R } _ { \sun } for primary and secondary stars , respectively . The evolutionary stage of the system is briefly discussed by comparing physical parameters with current stellar evolution models . We find the components are located at the main sequence , with an age of about 3 Gyr .