  We present a thorough study on the magnetoanisotropic properties and
magnetocaloric effect in the layered ferromagnetic Cr$_4$Te$_5$ single crystals
by performing the critical behaviour analysis of magnetization isotherms. The
critical exponents $\beta$=0.485(3), $\gamma$=1.202(5), and $\delta$=3.52(3)
with a Curie temperature of $T_C \approx 340.73(4)$ K are determined by the
modified Arrott plots. We observe a large magnetocrystalline anisotropy
K$_u$=330 kJ/$m^3$ at 3 K which gradually decreases with increasing
temperature. Maximum entropy change -$\Delta S_{M}^{max}$ and the relative
cooling power (RCP) are found to be 2.77 $J/kg-K$ and 88.29 $J/kg$,
respectively near $T_C$ when the magnetic field applied parallel to
$\it{ab}$-plane. Rescaled -$\Delta S_M (T, H)$ data measured at various
temperatures and fields collapse into a single universal curve, confirming the
second order magnetic transition in this system. Following the renormalization
group theory analysis, we find that the spin-coupling is of 3D Heisenberg-type,
$\{d:n\}=\{3:3\}$, with long-range exchange interactions decaying as $J (r) =
r^{-(d+\sigma)}= r^{-4.71}$.
