We present X-ray imaging , timing , and phase resolved spectroscopy of the anomalous X-ray pulsar 4U 0142+61 using the Chandra X-ray Observatory ( CXO ) . The spectrum is well described by a power law plus blackbody model with \Gamma = 3.35 ( 2 ) , kT _ { BB } = 0.458 ( 3 ) keV , and N _ { H } = 0.91 ( 2 ) ~ { } \times~ { } 10 ^ { 22 } ~ { } { cm } ^ { -2 } ; we find no significant evidence for spectral features ( 0.5 - 7.0 keV ) . Time resolved X-ray spectroscopy shows evidence for evolution in phase in either \Gamma , or kT _ { BB } or some combination thereof as a function of pulse phase . We derive a precise X-ray position for the source and determine its spin period , P = 8.68866 ( 30 ) s. We have detected emission beyond 4 \arcsec from the central source and extending beyond 100 \arcsec , likely due to dust scattering in the interstellar medium .