In this work, thermal and magnetic properties for an electron with cylindrical confinement in presence of external electric and magnetic fields have been investigated. We found that the corresponding time-independent Schrödinger equation can be separated into the product of the radially symmetric and an axial equation. Moreover, we have obtained a quasi-exact expression for the energy spectrum of the system in terms of the exact solutions for the radial equation and an approximation up to first order for the axial equation. We have calculated the well-known thermal and magnetic properties as the heat capacity, magnetization and the magnetic susceptibility via the canonical partition function. We found that our results for thermal and magnetic properties differ significantly from results previously obtained by others authors (by Gumber et. al.). Moreover, our results are in agreement with the diamagnetic properties of GaAs.