Amino acid adducts of light fullerenes have a potential of application in a variety of fields of biomedicine, that is reactive oxygen species scavenging activity, anticancer activity, viruses and bacteria inactivation etc. In this work, the water-soluble C₆₀ fullerene derivative with L-hydroxyproline (C₆₀(C₅H₉NO₃)₂, C₆₀-Hyp) was studied. Extensive biomedical investigation of this compound, namely, antiradical activity in the reaction with stable diphenylpicrylhydrazyl radical, the binding to human serum albumin, photodynamic properties, cytotoxicity in glioblastoma A172 and lung carcinoma A549 cell lines, erythrocytes haemolysis, platelet aggregation, genotoxicity on human peripheral blood mononuclear cells was conducted. Moreover, the dynamic and structural characteristics of C₆₀-Hyp–H₂O binary system were obtained using molecular dynamic (MD) method, and size distribution along with ζ-potentials of C₆₀-Hyp associates was measured.