We report a combined study for the electronic structures of ferromagnetic CeAgSb2 using soft X-ray absorption (XAS), magnetic circular dichroism (XMCD), and angle-resolved photoemission (ARPES) spectroscopies. The Ce M4,5 XAS spectra show very small satellite structures, reflecting a strongly localized character of the Ce 4f electrons. The linear dichroism effects in the Ce M4,5 XAS spectra demonstrate the ground state Ce 4f symmetry of Γ6, the spatial distribution of which is directed along the c-axis. The XMCD results give support to the picture of local-moment magnetism in CeAgSb2. Moreover it is also found that the theoretical band dispersions for LaAgSb2 provides better description of the ARPES band structures than those for CeAgSb2. Nevertheless, ARPES spectra at the Ce 3d-4f resonance show the momentum dependence for the intensity ratio between Ce 4f 1 5/2 and 4f 1 7/2 peaks in a part of the Brillouin zone, suggesting the non-negligible momentum dependent hybridization effect between the Ce 4f and the conduction electrons. This is associated with the moderate mass enhancement in CeAgSb2.