  The recurrence of a previously documented eclipse of a solar-like
pre--main-sequence star in the young cluster IC 348 has been observed. The
recurrence interval is 4.7 $\pm 0.1$ yr and portions of 4 cycles have now been
seen. The duration of each eclipse is at least 3.5 years, or $\sim 75$% of a
cycle, verifying that this is not an eclipse by a stellar companion. The light
curve is generally symmetric and approximately flat-bottomed. Brightness at
maximum and minimum have been rather stable over the years but the light curve
is not perfectly repetitive or smooth and small variations exist at all phases.
We confirm that the star is redder when fainter. Models are discussed and it is
proposed that this could be a system similar to KH 15D in NGC 2264.
Specifically, it may be an eccentric binary in which a portion of the orbit of
one member is currently occulted during some binary phases by a circumbinary
disk. The star deserves sustained observational attention for what it may
reveal about the circumstellar environment of low-mass stars of planet-forming
age.
