Zeolite Y and the NTD/Y nanocomposite, which were synthesized in situ (the addition of zeolite Y to the reaction mixture in the course of the synthesis of NTD by the sulfate method), were studied by a variety of methods. The decrease in the particle size (scanning electron microscopy) and the water content in pores (X-ray powder diffraction study, the full-profile Rietveld method, IR spectroscopy, differential scanning calorimetry), the increase in OH groups content and the decrease in the water content on the surface of zeolite (X-ray photoelectron spectroscopy) in the composition of NTD/Y compared to the initial zeolite Y were all established. A larger specific surface area of NTD/Y (Brunauer-Emmet-Teller method) compared to the initial zeolite Y is due to the fact that zeolite Y in the nanocomposite contains a smaller amount of water because of the synthesis conditions and the presence of nanocrystalline NTD on the surface of zeolite particles. It was found that NTD/Y nanocomposite exhibits a higher photocatalytic activity in the model decomposition reaction of methyl orange under UV and adsorption capacity for the extraction of P(V) and As(V) ions from aqueous media compared to the initial zeolite and pure NTD obtained under the same conditions, which differs from NTD/Y by the larger particle size, the smaller specific surface and the smaller content of OH groups and water on the surface. The role of Bronsted and Lewis centers in the realization of properties is discussed.