In this article, we study the Castelnuovo-Mumford regularity and Gorenstein properties of the fiber cone. We obtain upper bounds for the Castelnuovo-Mumford regularity of the fiber cone and obtain sufficient conditions for the regularity of the fiber cone to be equal to that of the Rees algebra. We obtain a formula for the canonical module of the fiber cone and use it to study the Gorenstein property of the fiber cone. © 2012 Copyright Taylor and Francis Group, LLC.