We obtained one orbital cycle of spectroscopic and photometric data for the newly discovered AM Herculis-like object H0139-68. The light curve shows a flat-bottomed minimum and a flat-topped maximum, with decreasing amplitude toward shorter wavelengths. The spectrum shows strong emission lines of H, He I, and He II. The lines seem to consist of broad base and narrow peak components; the broad components have both higher γ velocities and higher K velocities than the peaks, and lead the peaks very slightly in phase. This behavior reflects asymmetries in the line profiles. Comparison of the line fluxes and the photometric data indicates that Balmer continuum emission contributes importantly to the flux in the C band. Although we are hampered by a lack of accurate polarization data, we interpret the available evidence as indicating that the white dwarf occults the accreting pole.