A new tert‐buthylthiacalix[4]arene‐based tetranuclear 3d‐4f metal complex with the Mn2Tb2 core has been synthesized and its molecular and crystal structures have been studied by X‐ray diffraction. The complex geometry is similar to that of the earlier synthesized tert‐buthylthiacalix[4]arene‐based M2Ln2 complexes with M=Mn(II), Co(II), and Ln=Gd, Pr, Eu, but unlike those systems, it exhibits intricated cooperative low‐temperature magnetic properties arising from the presence of intercluster interactions. At T<8.5 K the complex shows weak spin‐canted ferromagnetism and field induced metamagnetic phase transition. The paramagnetic behavior observed at temperatures higher than 8.5 K is similar to that previously reported for the Mn2Gd2 complex, this being indicative of the existence of competitive ferro‐ and antiferromagnetic intracluster interactions.