We present the results of spectrophotometry and V, R, I, H alpha CCD photom
etry of the blue compact dwarf (BCD) galaxy SBS 0940+544. Broad-band images
taken with the 2.1 m KPNO* and 1.23 m Calar Alto** telescopes reveal a com
pact high-surface-brightness H II region with ongoing star formation, locat
ed at the northwestern tip of the elongated low surface brightness (LSB) ma
in body of the BCD. Very faint, patchy emission along the main body is seen
in the H alpha image. High signal-to-noise 4.5 m Multiple Mirror Telescope
(MMT)*** and 10 m Keck II telescope dagger long-slit spectroscopy of SBS 0
940+544 is used to derive element abundances of the ionized gas in the brig
htest H II region and to study the stellar population in the host galaxy. T
he oxygen abundance in the brightest region with strong emission lines is 1
2 + log(O/H) = 7.46-7.50, or 1/29-1/26 solar, in agreement with earlier det
erminations and among the lowest for BCDs. H beta and H alpha emission line
s and H delta and H gamma absorption lines are detected in a large part of
the main body. Three methods are used to put constraints on the age of the
stellar population at different positions along the major axis. They are ba
sed on (a) the equivalent widths of the emission lines, (b) the equivalent
widths of the absorption lines and (c) the spectral energy distributions (S
ED). Several scenarios of star formation have been considered. We find that
models with single instantaneous bursts cannot reproduce the observed SEDs
, implying that star formation in the main body of SBS 0940+544 was continu
ous. The observed properties in the main body can be reproduced by a contin
uous star formation process which started not earlier than 100 Myr ago, if
a small extinction is assumed. However, the observations can be reproduced
equally well by a stellar population forming continuously since 10 Gyr, if
the star formation rate has increased during last 100 Myr in the main body
of SBS 0940+544 by at least a factor of five. We also investigate the age o
f the reddest southern region of the main body, where no absorption and emi
ssion lines are detected. On the assumption of zero extinction in this fain
t region, the observed spectrum can be fitted by a theoretical SED of a ste
llar population continuously formed with a constant star formation rate bet
ween 100 Myr and 10 Gyr ago. If, however, a small extinction of C(H beta) s
imilar to 0.1 is present in this region then the observed spectrum can be f
itted by a theoretical SED of a stellar population continuously formed betw
een 100 Myr and 1 Gyr ago with a constant star formation rate. However, the
poor signal-to-noise ratio of the spectrum and large photometric errors pr
eclude reliable determination of the age of the southern region. In summary
, we find no compelling evidence which favors either a young or an old age
of SBS 0940+544.