We present a complete characterization of ferromagnetic system CeIr2B2 using powder x-ray diffraction XRD, magnetic susceptibility χ(T ), isothermal magnetization M (H), specific heat C(T ), electrical resistivity ρ(T, H), and thermoelectric power S(T ) measurements. Furthermore 11 B NMR study was performed to probe the magnetism on a microscopic scale. Rietveld refinement of powder XRD data confirms that CeIr2B2 crystrallizes in CaRh2B2-type orthorhombic structure (space group fddd ). The χ(T ), C(T ) and ρ(T) data confirm bulk ferromagnetic ordering with Tc = 5.1 K. Ce ions in CeIr2B2 are in stable trivalent state. Our low-temperature C(T ) data measured down to 0.4 K yield Sommerfeld coefficient γ = 73(4) mJ/mol K 2 which is much smaller than the previously reported value of γ = 180 mJ/mol K 2 deduced from the specific heat measurement down to 2.5 K. For LaIr2B2 γ = 6(1) mJ/mol K 2 which implies the density of states at the Fermi level D(EF ) = 2.54 states/(eV f.u.) for both spin directions. The renormalization factor for quasi-particle density of states and hence for quasi-particle mass due to 4f correlations in CeIr2B2 is ≈ 12. The Kondo temperature TK ∼ 4 K is estimated from the jump in specific heat of CeIr2B2 at Tc. Both C(T ) and ρ(T ) data exhibit gapped-magnon behavior in magnetically ordered state with an energy gap Eg ∼ 3.5 K. The ρ data as a function of magnetic field H indicate a large negative magnetoresistance (MR) which is highest for T = 5 K. While at 5 K the negative MR keeps on increasing up to 10 T, at 2 K an upturn is observed near H = 3.5 T. On the other hand, the thermoelectric power data have small absolute values (S ∼ 7 µV/K) indicating a weak Kondo interaction. A shoulder in S(T ) at about 30 K followed by a minimum at ∼ 10 K is attributed to crystal electric field (CEF) effects and the onset of magnetic ordering. 11 B NMR line broadening provides strong evidence of ferromagnetic correlations below 40 K.