We present optical photometric and polarimetric observations of stars toward NGC 1931 with the aim of deriving cluster parameters such as distance, reddening, age, and luminosity/mass function as well as understanding dust properties and star formation in the region. The distance to the cluster is found to be 2.3+/-0.3kpc and the reddening E(B-V) in the region is found to be variable. The stellar density contours reveal two clusters in the region. The observations suggest a differing reddening law within the cluster region. Polarization efficiency of the dust grains toward the direction of the cluster is found to be less than that for the general diffuse interstellar medium (ISM). The slope of the mass function (-0.98+/-0.22) in the southern region in the mass range of 0.8