\textit{Ab-initio} calculations based on density functional theory (DFT) are performed to study the structural, electronic, and magnetic properties of two-dimensional (2D) free-standing honeycomb CrAs. We show that CrAs has low buckled stable structure. Magnetic CrAs has larger buckling than non-magnetic CrAs. 2D-CrAs is a ferromagnetic semiconductor for lattice constant a≤3.71\AA, and above this lattice constant CrAs is a half-metal ferromagnet. 2D-CrAs is shown to be half-metal ferromagnetic with magnetic moment of 3.0μB per unit cell, at equilibrium structure. The dz2 orbital of eg band is completely empty in the spin-down state whereas it is almost occupied in the spin-up state, and the magnetic moment in the eg band is mainly dominated by the dz2 orbital of Cr. The dzx/dzy and dxy orbitals of t2g band are partially occupied in the spin-up state and behaves as metal whereas they are insulator in the spin-down state. Phonon calculations confirm the thermodynamic stability of 2D-CrAs. The ferromagnetic (FM) and antiferromagnetic (AFM) interaction between the Cr atoms reveal that the FM state is more stable than the AFM state of 2D-CrAs.