In　recent　years,　the　MnFePGe　compound　has　drawn　tremendous　attention　not　only　for　its　excellent　magnetocaloric　effect　(MCE),　but　also　for　its　great　commercial　interest.　Compared　with　other　advanced　MCE　materials　such　as　GdSiGe,　MnFePAs,　etc.,　it　possesses　many　practical　advantages　such　as　more　abundant　raw　materials,　lower　fabrication　costs　as　well　as　better　environmental　amity.　In　this　work,　Mn1.2Fe0.8P0.76Ge0.24　compound　was　prepared　by　mechanical　milling　and　subsequent　spark　plasma　sintering　(SPS)　technique,　its　microstructure　was　investigated　by　SEM,　meanwhile　the　relationship　between　phase　transition　and　the　properties　was　investigated　by　neutron　diffraction,　SQUID,　DSC　and　XRD.　The　results　show　that　the　Mn1.2Fe0.8P0.76Ge0.24　compound　is　compact,　and　possess　a　hexagonal　Fe2P-type　crystal　structure.　Generally,　either　applied　magnetic　field　or　temperature　change　will　induce　the　transformation　between　paramagnetic　phase　and　ferromagnetic　phase.　When　the　applied　magnetic　field　increased　or　temperature　reduced,　paramagnetic　phase　transformed　to　ferromagnetic　phase　and　caused　the　magnetic　entropy　change　to　become　larger.　It　is　found　that　the　magnetic　entropy　change　of　Mn1.2Fe0.8P0.76Ge0.24　compound　is　directly　corresponding　to　the　percentage　of　the　phase　transition.