International audience Aims: The main goal of this work is to characterize the mass accretion and ejection processes of the classical T Tauri star V354 Mon, a member of the young stellar cluster NGC 2264. Methods: In March 2008, photometric and spectroscopic observations of V354 Mon were obtained simultaneously with the CoRoT satellite, the 60 cm telescope at the Observatório Pico dos Dias (LNA, Brazil) equipped with a CCD camera and Johnson/Cousins BV(RI)c filters, and the SOPHIE échelle spectrograph at the Observatoire de Haute-Provence (CNRS, France). Results: The light curve of V354 Mon shows periodical minima (P = 5.26 ± 0.50 days) that vary in depth and width at each rotational cycle. The BV(RI)c observations indicate that the syste...