Results are presented from multicolor photometric and polarimetric studies of the eclipsing binary RY Per during 2001-2003. Light curves in the UBVRI bands are shown. An analysis of the variations in the linear polarization makes it possible to separate it into interstellar and intrinsic components. The degree of intrinsic polarization of the system away from the eclipse attains a maximum (0.23%) in the B band and falls off rapidly with increasing wavelength. This dependence is indicative of the existence of optically thick gas in the system. An analysis of the polarimetric data also shows that: the total mass of optically thin gas in the system is about 2·10-10M⊙, while the total mass of the shell must be several times that; and, the inclination of the orbital plane of the binary system relative to the galactic plane is 4° or 18°.