Polycrystalline perovskite SrMn0.5Fe0.5O3 has been synthesized by solid state reaction method. The crystal structure, magnetic properties and valence states of Mn and Fe ions have been investigated. X ray diffraction (XRD) and subsequent Rietveld refinement confirmed that SrMn0.5Fe0.5O3 is found to be a primitive cubic crystal structure，Mn and Fe atoms randomly occupy the center of oxygen octahedron. Also with the measure of XPS which indicates that Mn ions show trivalent and tetravalent state, while Fe ions are in trivalent state. Paramagnetic phase was observed in high temperature (>230 K), the spin-glass behavior at low temperature (3+ ions located in the octahedral sites.