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The multi-wavelength properties of the novalike variable system AE Aquarii are discussed in terms of the interaction between the accretion inflow from a late-type main sequence star and the magnetosphere of a fast rotating white dwarf. This results in an efficient magnetospheric propeller process and particle acceleration. The spin-down of the white dwarf at a period rate of 5.64×10−14 s s−1 results in a huge spin-down luminosity of  Ls−d ≃ 6 10×33 erg s−1. Hence, the observed non-thermal hard X-ray emission and VHE and TeV gamma-ray emission may suggest that AE Aquarii can be placed in the category of spin-powered pulsars. Besides, observed hard X-ray luminosity of LX,hard ≤ 5 × 1030 erg s−1 constitutes 0.1 % of the total spin-down luminosity of the white dwarf. This paper will discuss some recent theoretical studies and data analysis of the system

The Peculiar Binary System AE Aquarii from its Characteristic Multi-wavelength Emission