In this paper, we present the results of a detailed spectroscopic and photometric analysis of the V=13.4mag low-mass eclipsing binary NSVS 06507557 with an orbital period of 0.515d. We have obtained a series of mid-resolution spectra covering nearly the entire orbit of the system. In addition, we have obtained simultaneous VRI broad-band photometry using a small aperture telescope. From these spectroscopic and photometric data, we have derived the system's orbital parameters and we have determined the fundamental stellar parameters of the two components. Our results indicate that NSVS 06507557 consists of a K9 pre-main-sequence star and an M3 pre-main-sequence star.