Based on first-principles calculations, we investigate the magnetoelectric coupling in the multiferroic van der Waals (vdW) heterostructure ${\mathrm{EuSn}}_2{\mathrm{Sb}}_2/{\mathrm{In}}_2{\mathrm{Te}}_3$. We demonstrate that reversing the ferroelectric polarization of the ${\mathrm{In}}_2{\mathrm{Te}}_3$ monolayer switches the easy magnetization axis (EMA) of the ferromagnetic ${\mathrm{EuSn}}_2{\mathrm{Sb}}_2$ monolayer from in-plane to out-of-plane orientation. Unlike previously studied $3d$-electron multiferroic heterostructures, the present rare-earth-based system exhibits a strong interplay between spin-orbit-coupling (SOC)-induced anisotropy and large dipolar shape anisotropy originating from the sizable Eu magnetic moments. Our calculations reveal that polarization reversal induces substantial interfacial charge transfer and band bending, driving a semiconductor-to-metal transition and significant reconstruction of the low-energy electronic structure near the Fermi level. The resulting band shifts and orbital hybridization strongly modify the SOC-induced magnetic anisotropy associated with Eu $4f$ and Sb $5p$ states, whereas the shape anisotropy remains nearly unchanged. Consequently, the balance between SOC- and dipolar-driven anisotropies is reversed, leading to a switching of the EMA. These findings highlight the crucial role of interfacial electronic reconstruction in rare-earth multiferroic heterostructures and provide a viable route toward nonvolatile electrical control of magnetic anisotropy in vdW spintronic devices.

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• Magnetic anisotropy
• First-principles calculations