We present spectroscopic observations of the double-lined Algol type eclipsing binary V1898 Cyg. Analyses of the BV light curves and RVs led to determination of the fundamental stellar parameters of the V1898 Cyg's components. The absolute parameters for the stars are derived as: M-1 = 6.054 +/- 0.037 M-circle dot, M-2 = 1.162 +/- 0.011 M-circle dot, R-1 = 3.526 +/- 0.009 R-circle dot, R-2 = 2.640 +/- 0.010 R-circle dot, T-eff1 = 18000 +/- 600 K, and T-eff2 = 6200 +/- 200 K. The residuals between the observed and computed times of mid-eclipses were analysed and a rate of the period change (P) over dot/P = 6.68 x 10(-7) yr(-1) was obtained; a mass transfer rate of 1.88 x 10(-7) Me in a year is estimated. We have calculated the distance to the system V1898 Cyg as 501 +/- 5 pc using the infrared JHK magnitudes and bolometric corrections for the primary star. The components of the system's proper motions present some indications about membership to the North America nebula.