Photoelectric observations of the WR binary CQ Cephei (WN6+O9) are presented. The depths of the eclipses in the light curves are best represented by an inclination of the orbit i = (68.8 degrees+/-0.6) and the width of the very asymmetric eclipse curves can be represented by only an overcontact configuration (Omega(1) = Omega(2) = 3.65+/-0.05, and f = 27%). Simultaneous solution of the light and radial velocity curves strongly supports CQ Cep's membership of the Cep OB1 association. By considering this membership we obtained absolute dimensions of the system, which lead to a consistent physical model for CQ Cephei. The more luminous WR primary turns out to be the hotter but slightly less massive component: M-WR = 20.8 M., R-WR = 8.2R., T-eff(WR) = 43600 K, and M-O = 21.4 M., R-O = 8.3 R., T-eff(O) = 37000 K.