We present the analysis results of an eclipsing cataclysmic variable (CV) V729 Sgr, based on our observations and AAVSO data. Some outburst parameters were determined such as outburst amplitude (A n ) and recurrence time (T n ), and then the relationship between A n and T n is discussed. A cursory examination for the long-term light curves reveals that there are small-amplitude outbursts and dips present, which is similar to the behaviors seen in some nova-like CVs (NLs). More detailed inspection suggests that the outbursts in V729 Sgr may be Type A (outside-in) with a rise time ∼ 1.76 d. Further analysis also shows that V729 Sgr is an intermediate between dwarf nova and NLs, and we constrain its mass transfer rate to 1.59 × 10 −9 <Ṁ 2 < 5.8 × 10 −9 M ⊙ yr −1 by combining the theory for Z Cam type stars with observations. Moreover, the rapid oscillations in V729 Sgr were detected and analyzed for the first time. Our results indicate that the oscillation at ∼ 25.5 s is a true DNO, being associated with the accretion events. The classification of the oscillations at ∼ 136 and 154 s as lpDNOs is based on the relation between P lpDN Os and P DN Os . Meanwhile, the QPOs at the period of hundreds of seconds are also detected.