The rare-earth based ternary intermetallic compounds R2T X3 (R = rare-earth, T = transitionmetal, X = Si, Ge, Ga, In) have attracted considerable interest due to a wide range of interesting low temperature properties. Here we investigate the magnetic state of Nd2PdSi3 using neutron diffraction, muon spin relaxation (µSR) and inelastic neutron scattering (INS). This compound appears anomalous among the R2PdSi3 series, since it was proposed to order ferromagnetically, whereas others in this series are antiferromagnets. Our results confirm the onset of long range magnetic order below T0 = 17 K, where the whole sample enters the ordered state. Neutron diffraction measurements establish the presence of a ferromagnetic component in this compound, as well as an antiferromagnetic one with a propagation vector k2 = (1/2, 1/2, 1/4 − δ) (δ ≈ 0.02 − 0.03) with moments orientated exclusively along the c-axis. µSR measurements suggest that these components coexist on a microscopic level, and therefore the magnetic structure of Nd2PdSi3 is predominantly ferromagnetic, with a sinusoidally modulated antiferromagnetic contribution which reaches a maximum amplitude at 11 K, and becomes smaller upon further decreasing the temperature. INS results show the presence of crystalline-electric field (CEF) excitations above T0, and from our analysis we propose a CEF level scheme.