The aim of this study is to conduct and examine the results of a Magnetotelluric (MT) survey in Unai, Gujarat, India for geothermal prospect identification. At Unai, the data was acquired, processed, and interpreted in the form of 2D and 3D MT surveys. Data were acquired at 56 stations in uniformly spaced profiles along the ENE-WSE direction (geological strike direction) with a station spacing of 2 km. Qualitative and quantitative data understanding has been done for geothermal prospect identification. Deep and shallow 1D and 2D models of electrical resistivity were made, which suggests the presence of a geothermal aquifer. This is corroborated by polar and skew tipper diagrams. The one-dimensional Occam models and two-dimensional conjugate gradient models confirm the presence of a low resistivity anomaly near the surface ranging from the depth of 100–700 m. This suggests the presence of a shallow geothermal zone. Apart from the shallow geothermal prospect, this study also delineates a deep conductive body which may be attributed to a matured geothermal reservoir. For a better understanding of the prospect geoelectrical cross sections are analysed from a depth of 10 m to 15 km. The MT cross-sections show the presence of geological features such as a series of faults. These faults form horst and graben in nature and may act as a good trap for the shallow reservoirs.