The electronic structure of double perovskite Pr2MnNiO6 was studied using core x-ray photoelectron spectroscopy and x-ray absorption spectroscopy. The 2p x-ray absorption spectra show that Mn and Ni are in 4+ and 2+ states respectively. Based on charge transfer multiplet analysis of the 2p XPS spectra of both ions, we find charge transfer energies of 3.5 and 2.5 eV for Ni and Mn respectively. The ground state of Ni2+ and Mn4+ ions reveal a higher d electron count of 8.21 and 3.38 respectively as compared to the ionic values. The partial density of states clearly show a charge transfer character of the system for U − J 2 eV. The O 1s edge absorption spectra reveal a band gap of 0.9 eV, which is close to the value estimated from analysis of Ni and Mn 2p photoemission and absorption spectra. The combined analysis of nature of spectroscopic data and first principles calculations reveal that the material is a p − d type charge transfer insulator with an intermediate covalent character according to the Zannen–Sawatzy–Allen phase diagram.