With the motive of unraveling the effect of Cr incorporation on the structural, microstructural, dielectric, ferroelectric, energy storage, and magnetic properties of BCT (Barium Calcium Titanate) ceramics have been investigated. Ba0.80Ca0.20Ti1-3x/4CrxO3 (0.000 ≤ x ≤ 0.020) powder samples have been prepared using classical solid-state reaction method. Cr doped BCT ceramics showed a single phase perovskite structure having a tetragonal phase without phase transformation from P4mm to Pm-3m after the addition of Cr. With increased Cr content, the tolerance factor, lattice parameters, unit cell volume, c\a ratio, and grain size have been found to decrease. Both Debye-Scherrer and Williamson-Hall plot methods confirmed the reduction of crystallite size on increased Cr doping in BCT lattice. A dielectric anomaly “hump” (̴ 447 K) has been observed at low frequencies in the paraelectric region due to the presence of acceptor induced defect dipoles. The temperature-dependent dielectric properties of prepared BCT ceramic with Cr compositions possess diffused phase transition (DPT) and the width of DPT is increased. Room temperature energy storage density achieved the maximum value of 190.35 mJ/cm3 for the composition x = 0.005 at an electric field of 55 kV/cm. For the Cr composition of x = 0.015 and an electric field of 10 kV/cm, the highest energy storage efficiency (η) of about 60.5 % has been obtained at room temperature. % Temperature coefficient of capacitance has been obtained to vary between ± 15 % in the temperature range of 303 K to 523 K. Cr doped ceramic samples exhibit room temperature ferromagnetism at low magnetic fields and diamagnetism at a higher value of magnetic fields. These results suggest prepared ceramics as a suitable lead-free material for X8R multilayer ceramic capacitor devices and energy applications.