ABSTRACT We have explored some magnetic characteristics of a mixed spin-3/2 and spin-1 Ising ferrimagnetic square nanoparticle by utilising the finite cluster approximation. The influences of the core and surface shell couplings (Jc, Js), as well as the crystal fields (Dc, Ds) on the critical and compensation behaviour, were investigated. In the absence of crystal fields, a compensation point only exists if Jc is higher than the threshold core coupling J*c, where the dependence of J*c on Js is linear. By introducing the crystal fields, we found a variety of topologies of the compensation temperature with the possibility of double reentrance. In particular, the presence of the core crystal field Dc, according to the Js strength, may lead to one, two, or three compensation points.