The structural and magnetic properties of the compounds NdMn2-xVxSi2 have been studied by x-ray and high resolution neutron powder diffraction, specific heat, dc magnetization, and differential scanning calorimetry measurements over the temperature range 3-450 K. The Curie temperature and Néel temperature of layered NdMn1.9V0.1Si2 are been indicate at TC ~ 24 K and TN ~ 376 K respectively. The giant magnetocaloric effect (GMCE) around TC is found in layered NdMn1.9V0.1Si2 associated with first order magnetic transition from antiferromagnetic [AFil-type] to ferromagnetic [F(Nd)+Fmc]. This behaviorhas been confirmed as contribution of the magnetostructural coupling by using neutron powder diffraction. The magnetic entropy change −ΔSM ~ 25.4J kg-1 K-1 and adiabatic temperature change ΔTad~ 6.7 K have been determined using magnetization and specific heat measurement under 0-8 T field applied. This compound belongs with the small thermal ~ 0.8 K and magnetic ~ 0.1 T hysteresis characteristic providing high potential material for magnetic refrigerator.