We present new VLA and Effelsberg observations of the radio galaxy 8C 0821695. We have obtained detailed images in total intensity and polarization o
f this 2 Mpc sized giant. The magnetic field has a configuration predominan
tly parallel to the source main axis. We observe Faraday rotation at low fr
equencies, most probably produced by an ionized medium external to the radi
o source, The spectral index distribution is that typical of FR II radio ga
laxies, with spectral indices gradually steepening from the source extremes
towards the core. Modeling the spectrum in the lobes using standard synchr
otron loss models yields the spectral age of the source and the mean veloci
ty of the jet-head with respect to the lobe material. The existence of a po
ssible backflow in the lobe is considered to relate spectral with dynamical
determinations of the age and the velocity with respect to the external me
dium. Through a very simple model, we obtain a physical characterization of
the jets and the external medium in which the radio galaxy expands. The re
sults in 8C 0821+695 are consistent with a relativistic jet nourishing the
lobes which expand in a hot, low density halo. We infer a deceleration of t
he source expansion velocity which we explain through a progressive increas
e in the hot-spot size.