In this work, we present a detailed study on the magnetocaloric effect and the critical behaviors of an amorphous Fe88Gd2Zr10 alloy ribbon prepared by using a rapid quenching method. We point out that the value of maximum magnetic entropy change (|∆S max|) of amorphous Fe88Gd2Zr10 alloy ribbon appeared at near room temperature and versus ΔH obeys a power law, |∆S max| = a·ΔH n. In addition, all ΔS m(T, ΔH) data measured at different ΔH values are collapsed onto a universal master curve. Interestingly, M 2 versus H/M curves prove amorphous Fe88Gd2Zr10 ribbon exhibitied a second-order magnetic phase transition. The critical exponents (β, γ, and δ) obtained from the modified Arrott plots and the Kouvel–Fisher methods, and critical isotherm analysis are very close to those expected for the 3D-Heisenberg model, proving ferromagnetic short-range interactions exist in amorphous Fe88Gd2Zr10 ribbon.