Time-of-flight inelastic neutron scattering measurements on Sr2IrO4 single crystals were performed to access the spin Hamiltonian in this canonical Jeff=1/2 spin-orbital Mott insulator. The momentum of magnetic scattering at all inelastic energies that were measured is revealed to be $L$-independent, indicative of idealized two-dimensional in-plane correlations. By probing the in-plane energy and momentum dependence up to ~80 meV we model the magnetic excitations and define a spin-gap of 0.6(1) meV. Collectively the results indicate that despite the strong spin-orbit entangled isospins an isotropic two-dimensional S=1/2 Heisenberg model Hamiltonian accurately describes the magnetic interactions, pointing to a robust analogy with unconventional superconducting cuprates.