In this work, we present a detailed study of the magnetic properties and the magnetocaloric effect at room temperature of Ni50−xAgxMn37Sn13 alloys with x = 1, 2, and 4, which were prepared by using an arc-melting method. Experimental results reveal that a partial replacement of Ag for Ni leads to a decrease in the anti-FM phase in the alloys. In addition, the martensitic-austenitic phase transition shifts towards lower temperature and is broaded. The Curie temperature (TCA) for the austenitic phase also shifts toward to lower temperature, but not by much. The Curie temperature was found to be 308, 305, and 298 K for x = 1, 2, and 4, respectively. The magnetic entropy change (ΔSm) of the samples was calculated by using isothermal magnetization data. Under an applied magnetic field change of 10 kOe, the maximum value of ΔSm (|ΔSmax|) was achieved at around room temperature and did not change much (~0.8 J·kg−1·K−1) with increasing Ag-doping concentration. Particularly, the M2 vs. H/M curves prove that all the samples exhibited a second-order magnetic phase transition. Based on Landau’s phase-transition theory and careful analyses of the magnetic data around the TCA, we have determined the critical parameters β, γ, δ, and TC. The results show that the β values are located between those expected for the 3D-Heisenberg model (β = 0.365) and mean-field theory (β = 0.5). Such a result proves the coexistence of short-range and long-range ferromagnetic interactions in Ni50−xAgxMn37Sn13 alloys. The nature of the changes in the critical parameters and the |ΔSmax| is thoroughly discussed by means of structural analyses.