We present the $UBVRI$ CCD photometry in the region of the open cluster NGC 2421. Radius of the cluster is determined as $\sim$ 3$^\prime$.0 using stellar density profile. Our Study indicates that metallicity of the cluster is $Z \sim$ 0.004. The reddening $E(B-V) = 0.42\pm$0.05 mag is determined using two colour $(U-B)$ versus $(B-V)$ diagram. By combining the 2MASS $JHK$ data with the optical data we determined $E(J-K) = 0.20\pm$0.20 mag and $E(V-K) = 1.15\pm$0.20 mag for this cluster. Colour-excess diagrams show normal interstellar extinction law in the direction of the cluster. We determined the distance of the cluster as 2.2$\pm$0.2 Kpc by comparing the ZAMS with the intrinsic CM diagram of the cluster. The age of the cluster has been estimated as 80$\pm$20 Myr using the stellar isochrones of metallicity $Z = 0.004$. The mass function slope $x = 1.2\pm0.3$ has been derived by applying the corrections of field stars contamination and data incompleteness. Our analysis indicate that the cluster NGC 2421 is dynamically relaxed.

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