Photoelectric observations of the eclipsing binary IQ Persei have been carried out in B and V colours at Ege University Observatory. The corresponding light curves were analyzed by synthesis techniques. The absolute physical parameters and apsidal motion period (122 yr) of the system were obtained. The results have been compared with theoretical evolutionary models which include both mass loss and convective overshooting. Theoretical evolutionary tracks of the component stars indicate an age of 1.3 x 10(8) years and an apsidal motion constant of 0.0040 which is greater than its observed value by only about 5%. The A7 secondary of the eclipsing pair is still close to the zero-age main sequence but B7 primary is about halfway through its main sequence life-time.