Photometry of the X-ray-selected cataclysmic variable TW Pictoris (=H 0534-581) reveals a periodic signal at P=6.1 br, which is approximately the orbital period of the binary. In addition, a highly probable signal is found at P=119.76 +/- 0.09 min. Coupled with the high excitation, the high L(x)/L(opt) ratio, and the probable detection of a similar spectroscopic period, this makes it likely that the star belongs to the ''DQ Herculis'' class of cataclysmic variable-in which the stable short period is the spin period of an accreting magnetic white dwarf. Theory suggests that TW Pic is a particularly attractive candidate for showing circular polarization at visual or near-infrared wavelengths.