We investigate the magnetic behavior and critical exponents of quaternary CoFeV0.8Mn0.2Si Heusler alloy to understand the interactions across the Curie temperature (TC). The Rietveld refinement of the x-ray diffraction pattern with the space group F4¯3m confirms a single-phase cubic Y-type crystal structure. The magnetic susceptibility χ(T) data show a ferromagnetic nature with a second-order phase transition from paramagnetic to ferromagnetic at 446±1 K. The saturation magnetization at 5 K is found to be 2.2 μB/f.u., which is close to the Slater–Pauling rule and indicates its half-metallic nature. The values of asymptotic critical exponents (β, γ, and δ) and the TC are extracted through detailed analytical analysis including the modified Arrott plot, the Kouvel–Fisher (K–F) method, and the Widom scaling relation. Interestingly, the estimated values of β=0.369 and γ=1.445 closely approximate the theoretical values of the 3D Heisenberg model across the TC and validate the second-order thermodynamic phase transition. The obtained exponents lead to the collapse of renormalized isotherms, represented by the relationship between the magnetization (m) and the applied magnetic field (h), into two distinct branches above and below the TC, which validates the reliability of the analysis. Furthermore, these exponents suggest that the spin interaction follows a decay pattern of J(r)∼r−4.99, indicating a short-range magnetic ordering, akin to the itinerant-electron 3D Heisenberg model.