In this study, we investigate the ground state phase diagrams and magnetic properties of a two-dimensional ferrimagnet system characterized by alternating spins of values \(\sigma\) = 3/2, and S = 3 on a square lattice, using Monte Carlo (MC) simulation. We examine the effect of exchange interactions, crystal field, and external magnetic field on magnetization, magnetic susceptibility, critical and compensation temperatures, and hysteresis behavior. We analyze the phase diagrams, specifically \(T^{\prime } - J_{2}^{\prime }\) , \(T^{\prime} - J_{3} ^{\prime}\) , \(T^{\prime} - D_{\sigma } ^{\prime}\) , \(T ^{\prime} - D_{s} ^{\prime}\) , and \(T ^{\prime} - {h}^{\prime}\) under various values of the exchange couplings, crystal field, and external magnetic field. Our findings reveal that the compensation temperature starts to evolve significantly for \(J_{2} ^{\prime}\) > 0.2 and \(D_{s} ^{\prime}\) > − 3 of the spin-3 assembly. In contrast, the exchange interaction \(J_{3} ^{\prime}\) and the crystal field \(D_{\sigma }^{\prime}\) do not exhibit threshold values, resulting in a nearly constant compensation temperature. We observe the N-, Q- and P-type compensation behaviors in the system. Moreover, our results indicate that all phase transitions observed are second-order, with no evidence of a tricritical point.
