The structure of the doubly-odd nucleus 154Eu was investigated using neutron capture and (d, p) reactions on 153Eu. The low-energy γ-ray and conversion electron spectra from thermal neutron capture, as well as the γ-ray spectrum for primary energies up to 6.5 MeV, were measured with precision instruments at the Institut Laue-Langevin, Grenoble. The multipolarities were determined for most of the detected low-energy transitions. The (nres, γhigh) spectrum measurements with 2 keV, 2 eV and 3 eV neutrons were performed at Brookhaven National Laboratory for primary transitions leading to the 0–600 keV excitation energies. The 153Eu(d, p)154Eu reaction was measured with the Q3D spectrograph at TU Munich. A level scheme below 600 keV excitation energy comprising 99 levels was deduced and the parities and most probable spin values were determined from the experimental data. The low-lying levels were interpreted as due to the two-particle Nilsson configurations, taking into account the proton orbits 52+[413], 52−[532], 32+[411], and the neutron orbits 112−[505], 32+[651], 32−[521], 32−[532], 52+[642], 32+[402], 52−[523], 12+[400], 12−[530]. The 145.3 (± 0.3) keV level observed in the (d, p) reaction can be identified with the isomeric level with T12 = 46 min. The neutron separation energy for 154Eu was determined to be 6442.0 ± 0.3 keV.