We present a low-resolution discovery spectrum and CCD-photometry of the bright X-ray source 1RXS J0 12851.9-233931 found in the ROSAT All-Sky Survey. These first observations suggest that the source is an AM Herculis star (polar) accreting at a low rate. The optical spectrum is dominated by Zeeman absorption features from the white dwarf, indicating a mean photospheric magnetic field of 36 +/- 1MG. Only weak Balmer line emission was observed. In the near infra-red, a single intense cyclotron hump was observed. The inferred magnetic field strength in the accretion plama is 45 +/- 1 MG, the temperature in the plasma is below 2keV. Likely orbital periods are similar to 90 min or similar to 146 min, the latter inside the cataclysmic variable period gap. The system is an ideal target for further detailed investigations of the field structure on a magnetic white dwarf by phase-resolved spectropolarimetry.