A Pc5 wave was simultaneously observed in the ionosphere by EKB radar and in the magnetosphere by both Van Allen Probe spacecraft within a substorm activity. The wave was located in the nightside, in 1.5‐ to 3‐hr magnetic local time sector, and in the region corresponding to the magnetic shells with maximal distances 4.6–7.8 Earth's radii. As it was found using both the radar and spacecraft data, the wave had frequency of about 1.8 mHz and azimuthal wave number m≈−10; that is, the wave was westward propagating. The EKB radar data revealed the equatorward wave propagating in the ionosphere, which corresponded to the earthward propagation in the magnetosphere. Furthermore, the field‐aligned magnetic component was approximately 2 times larger than both transverse components and accompanied by antiphase pressure oscillations; that is, the wave is compressional and diamagnetic. According to both radar and spacecraft measurements, among two transverse magnetic components, the dominant one was the poloidal. The wave was possibly driven by substorm‐injected energetic protons registered by the spacecraft: the proton fluxes were modulated with the wave frequency at energies of about 90 keV, which corresponded to the energy of the drift wave‐particle resonance. The wave frequency was much lower than the minimal frequency of the field line resonance calculated using the spacecraft data. We conclude that the wave is not the Alfvén mode, but some kind of compressional wave, for example, the drift‐compressional mode.