Swine influenza viruses (SIVs) cause clinical respiratory symptoms associated with high mortality rates among pigs. Because pigs can be a “mixing vessel” for influenza viruses, the SIV might pose a serious threat to animal and human health. In this study, an H3N2 SIV [A/swine/Zhejiang/19/2019(H3N2) (ZJ-SW19)] was isolated from a sick pig in Eastern China in 2019, and its molecular genetics were characterized. Phylogenetic analysis demonstrated the hemagglutinin (HA) and neuraminidase (NA) segments of ZJ-SW19 are highly homologous with those of H3N2 SIVs, belonging to human-like lineages; in contrast, the remaining six SIV segments (PB2, PB1, PA, NP, M, and NS) demonstrate the highest similarity with H1N1 SIVs isolated in East Asia during 2014–2020. The in vitro analysis of the virus’s growth kinetics revealed that ZJ-SW19 can replicate efficiently in various mammalian and avian cell lines (including MDCK, A549, and DF-1). The receptor-binding analysis results indicated that ZJ-SW19 can bind to human-like receptors (α-2,6-linked sialic acid) and avian-like receptors (α-2,3-linked sialic acid). Moreover, ZJ-SW19 demonstrated significant differences compared with avian- and human-origin H3N2 influenza viruses in the antigenic analysis. Finally, in the pathogenicity test, ZJ-SW19 effectively replicated in the mouse lungs with moderate virulence. Therefore, continuous circulation of novel reassortant H3N2 SIVs indicates the need for long-term, close surveillance of influenza viruses in pig herds.