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Magnetic and structural parameters of tetragonal Fe5SiB2 compound was studied in applied magnetic field up to 7 T and hydrostatic pressure up to 6 GPa in temperature ranging from 2 K up to TC = 844 K. The temperature dependence of saturated magnetization was measured and described by analytical equation. The decrease of saturated magnetization of dlnM/dp = −1.5 10−2 GPa−1 was observed. The bulk modulus of 124 GPa was determined by means of high-pressure X-ray diffraction. The low-temperature spin-reorientation transition was observed and small negative dependence of the transition temperature with respect to pressure was established.