A detailed investigation and characterization is made of the magnetic phase transitions that occur in the cubic CeFe2 Laves phase compound using high resolution direct measurements of the temperature derivative of the electrical resistivity (dϱ/dT). The results confirm the existence of a spin reorientation transition (SRT) in the ferromagnetic phase of CeFe2 at Tsr ≈ (132 ± 1) K, of second order character. This transition can be understood in terms of a [100] → [uuw] spin reorientation transition due to a non‐negligible K3 term in the expression of the magnetic anisotropy energy. Near the Curie temperature, critical analysis of dϱ/dT data shows that CeFe2 behaves as an isotropic Heisenberg ferromagnet with a critical temperature Tc ≈ (227.5 ± 0.1) K and a critical exponent α = 0.10 ± 0.02. This value is consistent with the theoretical expectancy based on the magnetic specific heat.