We present an analysis of archival RXTE and BeppoSAX data of the X-ray source 4U2206+54. For the first time, high energy data (≥ 30 keV) is analyzed. The data is well described by comptonization models in which seed photons with temperatures between 1.1 keV arid 1.5 keV are comptonized by a hot plasma at 50 keV thereby producing a hard tail which extends up to 100 keV. From luminosity arguments it is shown that the area of the soft photons source must be small (r ≈ 1 km) and that the presence of an accretion disk in this system is unlikely. Here we report on the possible existence of a cyclotron line around 30 keV . The presence of a neutron star in the system is strongly favored by the available data.