The detection of the orbital period of $4\fh36$ is reported for the new Intermediate Polar 1 WGA J1958.2+3232. The orbital period was derived from time-resolved photometric and spectral observations. We also confirmed the 733 s spin period of the White Dwarf consistent with the X-ray pulsations and were able to distinguish the beat period in the light curve. Strong modulations with orbital period are detected in the emission lines from spectral observations. They show the presence of a bright hot spot on the edge of the accretion disk. The parameters of this recently discovered Intermediate Polar are determined.