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The variable star HD 178450 = V478 Lyr is a chromospherically active G8 V single-lined spectroscopic binary with a period of 2.130514 days. This star has strong ultraviolet emission features and a filled-in Hα absorption line which is variable in strength. It is classified as an early-type BY Draconis system and is similar in many respects to the BY Dra star HD 175742 = V775 Her. The unseen secondary of HD 178450 has a mass of about 0.3 M_sun; and is probably an M2-M3 dwarf. The inclination of the system is 67°±12°. The lithium abundance of the G8 dwarf results in an age for the system that is somewhat less than that of the Hyades cluster. The system is relatively nearby, with an estimated distance of 26 pc, or a parallax of 0arcsec.039.