In this study, the computational functionals GGA and mBj of density functional theory (DFT) were employed to explore the electronic structure of tantalum based double perovskite oxide Ba2CoTaO6. Computed tolerance (t) and octahedral (µ) factors deduce the cubic stability of the perovskite crystal. Negative formation energy indicates that the system is thermodynamically stable. The elastic constants satisfy the conditions for cubic stability and the Pagh’s index (B/G) evinces the brittle nature. The band structure and total density of states reveal the half-metallic nature with a 4.7 eV insulator indirect energy band gap at the Fermi level in the spin up direction. An integer-valued (4µB) magnetic moment is observed to favor the half-metallic ferromagnetism in the double perovskite oxide Ba2CoTaO6. Optical properties play a significant role in the design and functionality of optical devices and systems. In this aspect, the two parts of the dielectric function (real and imaginary) and the related parameters have been explored. The observed properties provide insights into possible applications of this system in spintronics and optoelectronics.