In this study a novel compound parabolic collector (CPC) with an asymmetric reflector and an evacuated U-pipe tubular receiver was examined numerically and experimentally. The thermal operation of the system was tested in a range of 22–70 °C inlet temperature in the city of Athens in Greece, using water as the working fluid. The collector was oriented towards the sun in each case, while the measurements where conducted for 10 min regarding each operating point. The data acquisition as regards the solar irradiation intensity, the inlet, the outlet and the ambient temperature was conducted every 30 s. The experimental results were also validated by developing a numerical model in SolidWorks Flow Simulation environment. Particularly, it was found that the numerical results diverge from the experimental one by 3% on average, with the maximum declination to take the value of 5.17%. By this simulation it was possible to estimate the temperature of the receiver and the convection regime at the interior of the U-pipe. The convective coefficient at the interior of the flow tube was also validated through a theoretical model. Last but not least, the collector was compared with three other designs taken from literature as regards the optical performance.