We present the first BVRI CCD photometric observations of V345 Cas made on 22 nights during the observing seasons in 2007-2008. Our light curves, resembling those of EB-type binary stars, are analyzed with the 2003 version of the Wilson- Devinney binary code. The photometric study shows that V345 Cas is a typical semi-detached binary system with the primary star being about ΔT = 2400 K hotter, two times more massive, but only 17% larger than the secondary star being filled with it's Roche-lobe. The orbit has a relatively large inclination of about 88°. A cool spot on the secondary component is modeled to explain a small light curve asymmetry. Absolute dimensions and related radiometric parameters of the eclipsing pair are calculated and their evolutionary states are discussed with the HR diagrams of mass-radius and temperature-luminosity. A period analysis of all available times of minima, including our measurements, indicates that the orbital period may vary in a cyclical way, unfortunately the secondary period for the variation can not be uniquely determined because of lack of present timing data.