The phase diagrams and magnetization curves of the site-diluted mixed spin-1 and spin- 3 2 Ising ferrimagnet on the honeycomb lattice are studied by the use of effective-field theory with correlations. We find new phenomena induced by the dilution, such as the possibility of three compensation points in the system and some characteristic behaviours in the thermal variation of total magnetization not predicted in the Néel theory of ferrimagnetism.