GT2318+620 is a variable radio source exhibiting a jet-like feature on both sides of an unresolved core (Taylor et al., Nature 351, 1991), and it is possibly associated with an UHURU X-ray source. A red 20th magnitude star coincident with the radio core was identified as the optical counterpart. Based on a neutral hydrogen absorption spectrum and the red color Taylor et al. classified the source as a Galactic low-mass X-ray binary. However, our imaging of GT2318+620 with the Nordic Optical Telescope in subarcsecond seeing conditions uncovered a red (V-I = 2.5) resolved source suggesting that the optical counterpart might be the host galaxy of a radio loud AGN. We present the results of recent optical photometry and spectroscopy as well as infrared photometry of GT2318+620 and discuss their implications on the nature of this source.