The half-life for double beta decay of 150 Nd has been measured by the NEMO-3 experiment at the Modane Underground Laboratory. Using 924.7 days of data recorded with 36.55 g of 150 Nd the half-life for 2νββ decay is measured to be T 2ν 1/2 = (9.11 +0.25 −0.22 (stat.) ± 0.63 (syst.)) × 10 18 years. The observed limit on the half-life for neutrinoless double beta decay is found to be T 0ν 1/2 > 1.8×10 22 years at 90% Confidence Level. This translates into a limit on the effective Majorana neutrino mass of mν < 4.0 − 6.3 eV if the nuclear deformation is taken into account. We also set limits on models involving Majoron emission, right-handed currents and transitions to excited states.