In this paper we have synthesis of a sample of Y0.3Gd0.2Sr0.5MnO3 by solid state ceramic route method. The structural and thermodynamic properties of polycrystalline samples of Y0.3Gd0.2Sr0.5MnO3 were measured in order to investigate the effect of higher magnetic moment ion Gd and divalent Sr over Y ion. The structural transition from hexagonal to orthorhombic is observed at very high doping of Gd ion. Low temperature specific heat measurements were performed at 2-300 K at three different applied magnetic fields, which reveals the signature of Schottky-like anomaly in the present sample.