Magnetocrystalline anisotropy is a fundamental property of magnetic materials that determines the dynamics of magnetic precession, the frequency of spin waves, the thermal stability of magnetic domains, and the efficiency of spintronic devices. We combine torque magnetometry and density functional theory calculations to determine the magnetocrystalline anisotropy of the metallic antiferromagnet Fe$_2$As. Fe$_2$As has a tetragonal crystal structure with the Neel vector lying in the (001) plane. We report that the four-fold magnetocrystalline anisotropy in the (001)-plane of Fe$_2$As is extremely small, ${K_{22}} = - 150~{rm{ J/}}{{rm{m}}^{rm{3}}}$ at T = 4 K, much smaller than perpendicular magnetic anisotropy of ferromagnetic structure widely used in spintronics device. ${K_{22}}$ is strongly temperature dependent and close to zero at T > 150 K. The anisotropy ${K_1}$ in the (010) plane is too large to be measured by torque magnetometry and we determine ${K_1} = -830~{rm{ kJ/}}{{rm{m}}^{rm{3}}}$ using first-principles density functional theory. Our simulations show that the contribution to the anisotropy from classical magnetic dipole-dipole interactions is comparable to the contribution from spin-orbit coupling. The calculated four-fold anisotropy in the (001) plane ${K_{22}}$ ranges from $- 292~{rm{ J/}}{{rm{m}}^{rm{3}}}$ to $280~{rm{ J/}}{{rm{m}}^{rm{3}}}$, the same order of magnitude as the measured value. We use ${K_1}$ from theory to predict the frequency and polarization of the lowest frequency antiferromagnetic resonance mode and find that the mode is linearly polarized in the (001)-plane with $f = $ 670 GHz.
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