Using first-principles calculation, we investigate electronic and magnetic properties of Dy2MnCoO6. A detailed structural optimization has been done and found that the orthorhombic structure with Mn (Co) ions aligning along the longest axis type is the most stable structure. Within the generalized gradient approximation, the spin polarized calculations predict Dy2MnCoO6 to be a half-metallic with ferromagnetic interaction between Mn and Co ions and antiferromagnetic interaction between Dy and Mn/Co ions. We also investigate the effect of Hubbard parameter (U) on the ground state magnetic structure. For all values of Hubbard U parameter the Co ions have nonzero magnetic moment; they do not lie in low-spin state, as in DyCoO3. © 2014 AIP Publishing LLC.