The CDF experiment has recorded 110 pb^-1 of ppbar collisions at sqrt s = 1.8 TeV during the 1992-1995 data taking period. Using this dataset, searches for exclusive and semileptonic Lambda_b decays were performed. The Lambda_b mass was measured to be M_lambda_b = 5623 +/- 5(stat.) +/- 4(syst.) MeV/c^2, using a sample of exclusively reconstructed Lambda_b candidate events in the Lambda_b -> Lambda J/psi channel. The Lambda_b lifetime was measured to be tau_Lambda_b = 1.32 +/- 0.08(stat.) +/- 0.05(syst.) ps, using a sample of 197 +/- 25 partially reconstructed semileptonic Lambda_b -> l^- Lambda^+_c X decays, with Lambda_+_c reconstructed from its decay to the pK^- pi^+ final state. Using the same decay channels, the product branching ratios were measured to be f(b -> Lambda_b).B(Lambda_b -> Lambda J/psi) = 4.2 +/- 1.8(stat.) +/- 0.7 (syst.) x 10^-5 and f(b -> Lambda_b).B(Lambda_b -> l^- Lambda^+_c nu-bar).B(Lambda^+_c -> pK^- pi^+) = 9.3 +/- 2.5(stat.) +/- ^+4.6 _ -4.0(syst.) x 10^-4, where f(b -> Lambda_b) is the fraction of b quarks forming b baryons, and l is either an electron or a muon.