Analysis of the radial velocities based on spectra of high (near the H (alpha) line) and moderate (4420-4960 ) resolutions supplemented by the published radial velocities has revealed the binarity of a bright member of the young open star cluster chi Per, the star V622 Per. The derived orbital elements of the binary show that the lines of both components are seen in its spectrum, the orbital period is 5.2 days, and the binary is in the phase of active mass exchange. The photometric variability of the star is caused by the ellipsoidal shape of its components. Analysis of the spectroscopic and photometric variabilities has allowed the absolute parameters of the binary's orbit and its components to be found. V622 Per is shown to be a classical Algol with moderate mass exchange in the binary. Mass transfer occurs from the less massive () but brighter () component onto the more massive () and less bright () component. Analysis of the spectra has confirmed an appreciable overabundance of CNO-cycle products in the atmosphere of the primary component. Comparison of the positions of the binary's components on the T (eff)-log g diagram with the age of the cluster chi Per points to a possible delay in the evolution of the primary component due to mass loss by no more than 1-2Myr.