Abstract
Through the photometric observations of the near-contact binary, XZ CMi, new BV light curves were secured and seven times of minimum light were determined. An intensive period study with all published timings, including ours, confirms that the period of XZ CMi has varied in a cyclic period variation superposed on a secular period decrease over last 70 years. Assuming the cyclic change of period to occur by a light-time effect due to a third-body, the light-time orbit with a semi-amplitude of 0.0056d, a period of 29y and an eccentricity of 0.71 was calculated. The observed secular period decrease of was interpreted as a result of simultaneous occurrence of both a period decrease of by angular momentum loss (AML) due to a magnetic braking stellar wind and a period increase of by a mass transfer from the less massive secondary to the primary components in the system. In this line the decreasing rate of period due to AML is about 3 times larger than the increasing one by a mass transfer in their absolute values. The latter implies a mass transfer of $\dot{M}_s
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