The binary anisotropic and isotropic collision-induced light scattering spectra by gaseous room temperature neon, over an extended frequency domain have been used for deriving the empirical multi-parameter Morse–Morse–Morse–Spline van der Waals interatomic potential. These new data of scattering are accurate enough to permit for the first time a reliable determination of the isotropic potential as a function of the interatomic separation. The potential parameters describing the location and depth of the attractive well are given by ε = 41.07 K and r m = 3.087 Å. Comparison with other potentials based on bulk properties and ab initio calculations are presented; the temperature dependence of pressure second virial coefficient, self diffusion, thermal conductivity and viscosity are also discussed for the proposed potentials. In addition, our empirical potential was used to solve the nuclear Schrödinger equation for comparison with and predication of spectroscopic properties of the dimer. The results show that it is the most accurate potential reported to date for this system.