A new ternary platinum phosphide CePt3P was synthesized and characterized by means of magnetic, thermodynamic and transport measurements. The compound crystallizes in an antiperovskite tetragonal structure similar to that in the canonical family of platinum-based superconductors APt3P (A = Sr, Ca, La) and closely related to the noncentrosymmetric heavy fermion superconductor CePt3Si. In contrast to all the superconducting counterparts, however, no superconductivity is observed in CePt3P down to 0.5 K. Instead, CePt3P displays a coexistence of antiferromagnetic ordering, Kondo effect and crystalline electric field effect. A field-induced spin-flop transition is observed below the magnetic ordering temperature TN1 of 3.0 K while the Kondo temperature is of similar magnitude as TN1. The obtained Sommerfeld coefficient of electronic specific heat is γCe = 86 mJ/mol·K2 indicating that CePt3P is a moderately correlated antiferromagnetic Kondo lattice compound.