In this Letter , we announce the discovery of a new dwarf satellite of the Milky Way , located in the constellation Canes Venatici . It was found as a stellar overdensity in the North Galactic Cap using Sloan Digital Sky Survey Data Release 5 ( SDSS DR5 ) . The satellite ’ s color-magnitude diagram shows a well-defined red giant branch , as well as a horizontal branch . As judged from the tip of the red giant branch , it lies at a distance of \sim 220 kpc . Based on the SDSS data , we estimate an absolute magnitude of M _ { V } \sim - 7.9 , a central surface brightness of \mu _ { 0 ,V } \sim 28 mag arcsecond ^ { -2 } , and a half-light radius of \sim 8 \farcm 5 ( \sim 550 pc at the measured distance ) . The outer regions of Canes Venatici appear extended and distorted . The discovery of such a faint galaxy in proximity to the Milky Way strongly suggests that more such objects remain to be found .