We present the first long-term optical and infrared study of the optical co
unterpart to the source RX J0812.4-3114, an X-ray pulsar with a Be type com
panion. During the period covered by the observations the profile of some B
almer lines changed from absorption to emission and back again to absorptio
n. Contemporaneously, the infrared magnitudes varied by more than 0.8 mag.
This long-term variability is interpreted as the formation and subsequent d
issipation of the Be star's disc. The building up of the disc ended up in a
n active X-ray state characterised by regular outbursts occurring at 80 day
intervals. The overall duration of the formation/dissipation of the disc i
s found to be less than or similar to4.3 years. Optical spectroscopic and i
nfrared photometric observations were used to refine the spectral type of t
he primary (B0.2IV) and to monitor the circumstellar envelope around the Be
star. UBVRI and u upsilon by beta photometric observations allowed the det
ermination of the astrophysical parameters of the optical companion.