We present a dynamical study of the intermediate polar and dwarf nova cataclysmic variable GK Persei (Nova Persei 1901) based on a multisite optical spectroscopy and R-band photometry campaign. The radial velocity curve of the evolved donor star has a semi-amplitude $K_2=126.4 \pm 0.9 \, \mathrm{km}\, \mathrm{s}^{-1}$ and an orbital period $P=1.996872 \pm 0.000009 \, \mathrm{d}$. We refine the projected rotational velocity of the donor star to $v_\mathrm{rot} \sin i = 52 \pm 2 \, \mathrm{km}\, \mathrm{s}^{-1}$ that, together with K2, provides a donor star to white dwarf mass ratio q = M2/M1 = 0.38 ± 0.03. We also determine the orbital inclination of the system by modelling the phase-folded ellipsoidal light curve and obtain i = 67° ± 5°. The resulting dynamical masses are $M_{1}=1.03^{+0.16}_{-0.11} \, \mathrm{M}_{\odot }$ and $M_2 = 0.39^{+0.07}_{-0.06} \, \mathrm{M}_{\odot }$ at 68 per cent confidence level. The white dwarf dynamical mass is compared with estimates obtained by modelling the decline light curve of the 1901 nova event and X-ray spectroscopy. The best matching mass estimates come from the nova light curve models and an X-ray data analysis that uses the ratio between the Alfvén radius in quiescence and during dwarf nova outburst.