R and I band CCD observations of the nova V1494 Aql during July-November 2002 are reported and the V, R, and I light curves are analyzed. The orbital light curve of this nova has an eclipse-like form with two unequal humps before and after the eclipse. The approach to the eclipse lasts twice as long as the emergence from it. The overall duration of the eclipse is about 0.45Porb. The depth of eclipse increases with wavelength and averages 0m.3 (V), 0m.5 (R), and 0m.7 (I). The secondary, shallow minimum has an average depth of 0m.1 in R and I and about 0m.03 in V. The hump at phase 0.65 is higher than the one at phase 0.17. The most probable explanation for the observed variations in the light with the phase of the orbital period may be self eclipsing of the accretion column in the magnetic exploding variable (white dwarf) together with partial eclipsing of the accretion region by the secondary component.