Magnetic and transport proper-ties of La0.5Sr0.5CoO3 (LSCO) films prepared by laser ablation have been investigated in a temperature range of 77 - 300 K. X-ray diffraction analyses showed that all samples have a c-axis texture with a misorientation angles less than 1(0) and an in-plane epitaxial relationship between film and substrate [001]LSCO//[001]SrTiO3. The obtained films have a pseudocubic (perovskite) crystal structure with a lattice constant of a = 0.3835 rim and a low residual resistivity, rho (0) = 220 - 260 mu Omega cm, and display obviously a metallic-like rho (T) behavior. In addition to the well-known phase transition from the paramagnetic to ferromagnetic state at T-C approximate to 250 K, a new low-temperature magnetic transition at T* approximate to 50 K was also found. The experimental results are interpreted on the basis of the modem theoretical models.