An experiment was performed to investigate lift-off, blow-off and combustion characteristics of a lifted coaxial diffusion flame according to fuel jet and air velocity. A jet diffusion flame which is attached on the nozzle rim begins to be lifted with increase of air velocity, and finally becomes blow-off at higher air velocity. In experiment, blow-off limit increased with increase of fuel jet velocity, however lift-off occurred at lower air velocity. Flame structure and combustion characteristics were examined by schlieren photos, temperature distributions and emission concentration distributions. Flame temperature became higher at midstream and its RMS became larger at up and downstream with increase of air velocity. Local NO concentration decreased but $CO_2$concentration increased with increase of air velocity, which shows combustion reaction becomes close to be stoichiometric at higher air velocity in spite of lift-off.