Temperature dependence of the electric resistivity and AC magnetic susceptibility have been measured to investigate the basic superconducting and magnetic properties of Gd1.5Ce0.5RuSr2Cu 2O10. Structural analysis shows that the compound is single phase and crystallized into a tetragonal symmetry of space group I4/mmm. Three anomalies at around 85, 40, and 3K were clearly evident in the susceptibility data signify the Ru spin ordering, occurrence of superconductivity, and Gd/Ce spin ordering, respectively. Zero resistance was observed, for temperatures below 15 K, where diamagnetic responses were also seen. These observations confirm the occurrence of superconductivity in the system, and below 15 K superconductivity coexists with magnetic order.