We present results of polarimetric, photometric, and spectral observations of the near-Earth asteroid (3200) Phaethon carried out at the 6-m BTA telescope of the Special Astrophysical Observatory and the 2.6-m and 1.25-m telescopes of the Crimean Astrophysical Observatory over a wide range of phase angles during its close approach to the Earth at the end of 2017 (α = 19° – 135°) and in 2020 at α = 52.2°. Using our and other available in literature data, we found that the maximum degree of linear polarization of Phaethon in the V band is Pmax = (45 ± 1)% at the phase angle αmax = 124.0° ± 0.4°, whereas the inversion angle αinv = 21.4° ± 1.2° and polarimetric slope is h = (0.326 ± 0.027) %/deg. Using the dependence “polarimetric slope – albedo,” we have found the geometric albedo of asteroid Phaethon to be pv = 0.060 ± 0.005. This value falls into the lower range of albedo values for asteroids determined by different methods. The mean color indices U–B = 0.207 m ± 0.053 m and B–V = 0.639 m ± 0.054 m of the asteroid are derived at heliocentric and geocentric distances 1.077 au and 0.102 au, respectively, and phase angle α = 23.78°. The absolute magnitude of Phaethon is V(1,1,0) = 14.505 m ± 0.059 m. The effective diameter of Phaethon is estimated from obtained absolute magnitude and geometrical albedo, it is equal to 6.8 ± 0.3 km. The best fit to the observed polarimetric data was obtained with the Sh-matrix model of conjugated random Gaussian particles composed of Mg-rich silicate (90%) and amorphous carbon (10%).