<p>One of the most active classes of nanostructures is fullerene C₂₀, which has been exploited as an active component in significant applications. In this investigation, Monte Carlo simulation is used to investigate the magnetic and magnetocaloric properties of the mixed spins 2 and 3/2 fullerene C₂₀ system. Ferrimagnetic and ferromagnetic phases are stable, according to the ground state phase diagrams that have been constructed. The behavior of the magnetizations and the derivative of magnetization, in particular, have shown the impact of rising temperature. Additionally, an increase of the reduced Curie temperature to approximately t_C ≈ 3 was observed when the interactions between the spins S were strengthened. For numerous reduced external magnetic fields and reduced temperatures, the magnetic entropy variations are studied. The Relative Cooling Power (RCP) is calculated. It is demonstrated that the reduced exchange coupling interactions, <i>p</i> and <i>r</i>, lead to an increase in the reduced magnetic coercive field.</p>