We present a multi-scale and multi-frequency study of the radio galaxy IC1531 (z=0.026) with Chandra, XMM-Newton and Fermi. The Chandra image shows an X-ray core and 5 extended emission with the radio jet. The X-ray spectrum of the core is well fitted by a power law (Γ=2.2). The X-ray emission of the large scale jet is most-likely synchrotron emission, further confirming the low-power source classication. The gamma-ray analisys shows a 5-days variability, from which it is possible to estimate the size of the emitting region. We present a study of the spectral energy distribution of the core of IC1531 from radio to gamma-ray emission. The models allowed us to determine the nature of the gamma-ray emission and infer the jet kinetic power at sub-pc scales. The jet power at kpc scales is estimated from the total radio luminosity at 151 MHz. Finally, we compare the jet power with the disk luminosity. We discuss our results in terms of the formation and evolution of the jet.