Abstract Using the VLBI Exploration of Radio Astrometry (VERA), we measured the trigonometric parallax of an H2O maser source in a variable star of Mira Cet type, Y Lib, to be 0.855 ± 0.050 mas, corresponding to a distance of 1.17 ± 0.07 kpc. From multi-epoch infrared observations with the Kagoshima University 1 m telescope, we derived the mean J, H, and K′-band magnitudes of Y Lib to be 4.34 ± 0.22 mag, 3.62 ± 0.18 mag, and 3.25 ± 0.16 mag, respectively. The pulsation period of Y Lib was obtained to be 277.2 ± 13.9 d. We derived the effective temperature and radius of Y Lib to be 3100 ± 125 K and $211 ± 11 \, R_{⊙ }$, respectively. The peculiar motion of Y Lib Us (motion towards the Galactic center), Vs (motion in the direction of Galactic rotation), and Ws (motion towards the Galactic North Pole) were obtained to be −16 ± 3 km s−1, 25 ± 2 km s−1, and 13 ± 3 km s−1, respectively. After validation, we used the new release of the GALactic ORbit simulation package to trace the past 1 Gyr orbit of Y Lib in the Milky Way. Fitting the orbit of Y Lib with the MWPotential2014 Galactic Potential model produced high eccentricity in the direction perpendicular to the Galactic center, but decreasing the Miyamoto–Nagai disk potential contribution in the Milky Way model produced a reasonable result of the Y Lib orbit.