This work investigates the magnetocaloric effect, characterized by the magnetic entropy change \(- \Delta S_{{\text{M}}} \left( {H,T} \right)\) , using isothermal magnetization data for PrSr1−xPbxMn2O6 (x = 0.4, 0.5, and 0.6), denoted as Pb04, Pb05, and Pb06. The analysis was performed using experimental magnetization isotherms, M(H, T), and mean-field theory (MFT). The exchange field, Hexch, spontaneous magnetization, MS, and saturation magnetization, \(M_{0}\) , were determined through scaling analysis, Arrott plots, and entropy–magnetization correlations. Hexch exhibited a predominantly linear dependence on M, with negligible cubic contribution, yielding exchange parameter λ1 values of 1.71, 1.97, and 1.73 T·emu−1·g for Pb04, Pb05, and Pb06, respectively. Critical exponent β values obtained from both \(- \Delta S_{{\text{M}}}\) versus M2 and \(\frac{H}{M}\) versus M2 were close to the MFT prediction (β ≈ 0.5), confirming second-order ferromagnetic–paramagnetic transitions. Numerical solutions of the MFT equation reproduced M(H, T) and \(- \Delta S_{{\text{M}}} \left( {H,T} \right)\) curves in close agreement with experimental results, particularly at higher magnetic fields, validating the model’s applicability to these compounds.