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Large magnetocrystalline anisotropy (MCA) is of high technical relevance, in particular for magnetic actuators, permanent magnets, and memory devices with high density. Large MCAs have been reported for the low temperature L1 0 phase of Ni 2 MnGa. Both, Mn and Pt substitution can stabilize this phase at and above room temperature. Despite the larger spin-orbit coupling in the heavy 5d-element Pt, it has been reported that Pt substitution may result in degeneration of the MCA. In this paper, we study the MCA for a combination of epitaxial strain and Mn and Pt substitution based on density functional theory methods. We show that one can stabilize both large uniaxial and easy-plane anisotropies depending on the value of strain. In particular, small changes of the applied strain may allow to switch between low- and high-anisotropy states or even switch the direction of the easy-axis magnetization direction.