A new ephemeris,period change analysis and light curve modeling of the W UMa-type eclipsing binary BF Pav are presented in this study.Light curves of the system taken in BVRI filters from two observatories,in Australia and Argentina,were modeled using the Wilson-Devinney code.The results of this analysis demonstrate that BF Pav is a contact binary system with a photometric mass ratio q =1.460 ± 0.014,a fillout factor f =12.5%,an inclination of 87.97 ± 0.45 deg and a cold spot on the secondary component.By applying the distance modulus formula,the distance of BF Pav was calculated to be d =268 ± 18 pc which is in good agreement with the Gaia EDR3 distance.We obtain an orbital period increase at a rate of 0.142 scentury-1 due to a quadratic trend in the O-C diagram.Also,an alternative sudden period jump probably occurred which could be interpreted as a rapid mass transfer from the lower mass star to its companion of about AM =2.45 × 10-6 M☉.Furthermore,there is an oscillatory behavior with a period of 18.3 ± 0.3 yr.Since BF Pav does not seem to have significant magnetic activity,this behavior could be interpreted as the light-time effect caused by an undetected third body in this system.In this case,the probability for the third body to be a low mass star with M ≥ 0.075 M☉ or a brown dwarf is 5.4% and 94.6% respectively.If we assume i'=90°,a3 =8.04 ± 0.33 AU.The mass of the secondary component was also determined following two different methods which result close to each other.