We present simultaneous new BVI light curves along with radial velocity curve analysis of the RY Aqr system, using the PHysics Of Eclipsing BinariEs code. The analysis indicates that while the primary is completely inside its Roche critical surface, the secondary has filled out its Roche surface. In addition, the positions of the system components on M–R, H–R diagrams are specified, which show that the primary is a main-sequence or nearly main-sequence star while the secondary is an evolved subgiant. In addition, analysis of the period and luminosity variations of the system were carried out. Fourier frequency analysis of light variation indicates that the primary is a pulsating, δ-scuti variable star. Moreover, O–C curve analysis shows that the period of the system is secularly decreasing with a rate of dp/dt = 0.074 s yr−1. This decrease in the orbital period variations was attributed to a mass and angular momentum loss from the system with a rate of
Apart from the secular period decreases, the orbital period of the system is modulated by a cyclic period of 72.69 year, which was attributed to a third body orbiting around the barycenter of the system.