Experimental results of the magnetization $(M)$, specific heat $({C}_{p})$, electrical resistivity $(\ensuremath{\rho})$, magnetoresistance (MR), and thermoelectric power $(S)$ are presented for single crystals of the tetragonal $\mathrm{U}{\mathrm{Co}}_{0.5}{\mathrm{Sb}}_{2}$ compound. Anomalies in the $M\mathit{(}T\mathit{)}$, $[{C}_{p}\mathit{(}T\mathit{)}]$, $\ensuremath{\rho}\mathit{(}T\mathit{)}$, $S\mathit{(}T\mathit{)}$ dependencies have allowed us to establish that $\mathrm{U}{\mathrm{Co}}_{0.5}{\mathrm{Sb}}_{2}$ undergoes a long-range ferromagnetic ordering at ${T}_{C}=64.5(2)\phantom{\rule{0.3em}{0ex}}\mathrm{K}$. The temperature dependence of the magnetization measured fairly far below ${T}_{C}$ might be explained by considering both types of magnetic excitations: i.e., the spin-wave- and Stoner-type excitations. The $M\mathit{(}T\mathit{)}$ dependence is well represented by the relation $1\ensuremath{-}M(T)∕{M}_{s}=B{T}^{3∕2}+{B}_{1}{T}^{3∕2}\mathrm{exp}(\ensuremath{-}\mathrm{\ensuremath{\Delta}}∕T)$ with the determined spin-wave stiffness constant $D\ensuremath{\sim}100\phantom{\rule{0.3em}{0ex}}\mathrm{meV}\phantom{\rule{0.2em}{0ex}}{\mathrm{\AA{}}}^{2}$ and a Stoner gap $\mathrm{\ensuremath{\Delta}}=69(2)\phantom{\rule{0.3em}{0ex}}\mathrm{K}$. The behavior of the electrical resistivity below about ${T}_{C}∕2$ is discussed in terms of the electron scattering on magnons with a dispersion relation ${E}_{q}=\mathrm{\ensuremath{\Delta}}+D{q}^{2}$ and the two-dimensional weak localization effect described by a \ensuremath{-}ln $T$ dependence. Negative magnetoresistance is observed over a wide range of temperatures below 150 K. The relative large field and temperature changes in the transverse MR around ${T}_{C}$ are thought to be due to the ferromagnetic order or/and damped critical fluctuations by the applied fields. Below 40 K the magnetoresistance behavior may be understood on the basis of the predominant elastic scattering predicted for two-dimensional systems with the weak localization effect. The thermoelectric power data indicate $\mathrm{U}{\mathrm{Co}}_{0.5}{\mathrm{Sb}}_{2}$ to be a $p$-type material with a moderate $S$ value of $\ensuremath{\sim}25\phantom{\rule{0.3em}{0ex}}\ensuremath{\mu}\mathrm{V}∕\mathrm{K}$ at room temperature. The ${T}^{3∕2}$ dependence observed in the $S\mathit{(}T\mathit{)}$ curves for $T\ensuremath{\leqslant}30\phantom{\rule{0.3em}{0ex}}\mathrm{K}$ is consistent with the electron-magnon scattering process. The high anisotropy and temperature dependence of the $S\mathit{(}T\mathit{)}$ curves may be explained by adopting a phenomenological model for a Kondo lattice.