We have performed spectroscopic and photometric observations of Type Ia SN 2008hy. The spectroscopic characteristics suggest that SN 2008hy is similar to subluminous SNe Ia. The SiII6355 feature is not completely symmetric profile and the CaI IR triplet profile has a split structure. The MgII triplet feature is seen at 9500A. These features also are seen in subluminous SNe Ia (ex. SN 1999by, Garnavich et al. 2005). The decline rate of light curve would be larger than that of normal SNe Ia, and the I-band light curve has a small bump. We will continue the observation of SN 2008hy.