In this paper, a (4+1)-dimensional nonlinear integrable Fokas equation is studied. It is rarely studied because the order of the highest-order derivative term of this equation is higher than the common generalized (4+1)-dimensional Fokas equation. Firstly, the (4+1)-dimensional time-fractional Fokas equation with the Riemann–Liouville fractional derivative is derived by the semi-inverse method and variational method. Further, the symmetry of the time-fractional equation is obtained by the fractional Lie symmetry analysis method. Based on the symmetry, the conservation laws of the time fractional equation are constructed by the new conservation theorem. Then, the G′G-expansion method is used here to solve the equation and obtain the exact traveling wave solutions. Finally, the spectral method in the spatial direction and the Gru¨nwald–Letnikov method in the time direction are considered to obtain the numerical solutions of the time-fractional equation. The numerical solutions are compared with the exact solutions, and the error results confirm the effectiveness of the proposed numerical method.