Abstract In this paper, Lie symmetry analysis method is applied to (2+1)-dimensional time-fractional Heisenberg ferromagnetic spin chain equation. We obtain all the Lie symmetries admitted by the governing equation and reduce the corresponding (2+1)-dimensional fractional partial differential equations with Riemann-Liouville fractional derivative to (1+1)-dimensional counterparts with Erd'{e}lyi-Kober fractional derivative. Then we obtain the power series solutions of the reduced equations, prove their convergence and analyze their dynamic behavior graphically. In addition, the conservation laws for all the obtained Lie symmetries are constructed by the new conservation theorem and the generalization of Noether operators.
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