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• The mixed spin Ising model is generally used as a modeling tool to study ferrimagnetism. • Monte Carlo simulation to study the critical and the compensation behaviors of a cubic lattice considering a mixed spin- 3/2 and spin-1 Ising ferrimagnetic model. • The presence of crystal and external magnetic fields is not sufficient to generate the compensation phenomenon in a mixed spins. In this study, we perform Monte Carlo simulations to study the magnetic properties of a mixed Ising model on a cubic lattice where spins S i A = 1 and σ J B = 3/2 are located in sublattice A and B, respectively. The proposed Hamiltonian includes coupling to nearest-neighbors interactions, next-nearest-neighbors interactions, crystal fields D S and D σ and external magnetic field h. We perform exact ground-state calculations for our model. The obtained results show the behavior of the critical temperature with the presence of the compensation temperatures under a certain range of parameters. Particularly, we found that the existence of compensation temperatures depends on the strength of the coupling to the next nearest neighbors between the S i A spins and between the σ J B spins, and it appears in a certain range of values of the external magnetic and crystal field of different spins. [ABSTRACT FROM AUTHOR]