Extensive optical and near-infrared (NIR) observations of the type Ib supernova 1999dn are presented, covering the first year after explosion. These new data turn this object, already considered a prototypical SNIb, into one of the best observed objects of its class. The light curve of SN 1999dn is mostly similar in shape to that of other SNeIb but with a moderately faint peak M_V=-17.2 mag). From the bolometric light curve and ejecta expansion velocities, we estimate that about 0.11 Msun of 56Ni were produced during the explosion and that the total ejecta mass was 4-6 Msun with a kinetic energy of at least 5x10^{51} erg. The spectra of SN 1999dn at various epochs are similar to those of other Stripped Envelope (SE) SNe showing clear presence of H at early epochs. The high explosion energy and ejected mass, along with the small flux ratio [CaII]/[OI] measured in the nebular spectrum, together with the lack of signatures of dust formation and the relatively high-metallicity environment point toward a single massive progenitor (M_ZAMS>=23-25 Msun) for SN 1999dn. Comment: 15 pages, 11 figures. MNRAS accepted; This version matches the published one