Reaction of molybdenyl(IV) oxide bis(2,4-pentanedionate) with N′-(3-ethoxy-2-hydroxybenzylidene)-2-methoxybenzohydrazide in methanol affords a mononuclear dioxomolybdenum(VI) complex containing MoO5N basic core. The complex has been characterized by various physicochemical techniques (IR and elemental analysis), and single crystal X-ray diffraction. X-ray crystal structure determination reveals that the complex crystallizes as monoclinic space group P21/c, with unit cell dimensions a = 9.251(1), b = 11.910(2), c = 17.636(3) A, β = 103.220(2)°, V = 1891.7(5) A3, Z = 4, R 1 = 0.0693, wR 2 = 0.1691. The Mo atom in the complex is octahedrally coordinated, with the tridentate ONO ligand occupying the meridional sites. Thermal stability analysis was performed. The complex shows high catalytic property for the oxidation of various olefins.