In contrast to the current research on two-dimensional (2D) materials, which is mainly focused on graphene and transition metal dichalcogenide-like structures, studies on 2D transition metal oxides are rare. By using ab initio calculations along with Monte Carlo simulations and nonequilibrium Greenâs function method, we demonstrate that the transition metal oxide monolayer (ML) of Cr2O3 is an ideal candidate for next-generation spintronics applications. 2D Cr2O3 has honeycomb-kagome lattice, where the Dirac and strongly correlated fermions coexist around the Fermi level. Furthermore, the spin exchange coupling constant shows strong ferromagnetic (FM) interaction between Cr atoms. Cr2O3 ML has a robust half-metallic behavior with a large spin gap of ~3.9âeV and adequate Curie temperature. Interestingly, an intrinsic Ising FM characteristic is observed with a giant perpendicular magnetocrystalline anisotropy energy of ~0.9âmeV. Most remarkably, nonequilibrium Greenâs function calculations reveal that the Cr2O3 ML exhibits an excellent spin filtering effect.