We present the analysis results of an eclipsing cataclysmic variable (CV) V729 Sgr, based on our observations and American Association of Variable Star Observers data. Some outburst parameters are determined, such as outburst amplitude (A n) and recurrence time (T n), and then the relationship between A n and T n is discussed. A cursory examination of the long-term light curves reveals that there are small-amplitude outbursts and dips present, which is similar to the behavior seen in some novalike CVs (NLs). More detailed inspection suggests that the outbursts in V729 Sgr may be Type A (outside-in) with a rise time ∼1.76 d. Further analysis also shows that V729 Sgr is an intermediate between dwarf nova and NLs, and we constrain its mass transfer rate to 1.59 × 10-9 <5.M2 < 5.8 × 10-9 M⊙yr-1 by combining the theory for Z Cam type stars with observations. Moreover, the rapid oscillations in V729 Sgr were detected and analyzed for the first time. Our results indicate that the oscillation at ∼25.5 s is a true dwarf nova oscillation (DNO), being associated with the accretion events. The classification of the oscillations at ∼136 and 154 s as longer-period DNOs (lpDNOs) is based on the relation between P lpDNOs and P DNOs. Meanwhile, quasi-periodic oscillations with periods of hundreds of seconds are also detected.