The interaction of fission products with UO2 fuel, which is generated during the nuclear fission, can amend the fuel behavior. Among different lanthanide (Ln) fission products produced, Cerium (Ce) shows considerable yield. The Ce substitution in UO2 with isovalent Ce4+ cation is interesting due to the absence of oxygen vacancies and no change in the oxidation state of U atoms in the doped system. In this study, the trivalent and tetravalent Ce atom substitution in UO2 and their effect on thermophysical properties is investigated using density functional theory. Further, the effect of Ce doping concentrations in UO2 is assessed by varying the Ce ion concentrations in the lattice (6.25 %, 12.5 %, 25 %, and 50 %) for various charge balancing mechanisms. The lattice volume of Ce doped UO2 structures show higher or lower values compared to undoped UO2 depending upon the oxidation state of Ce and U atoms. The bulk modulus tends to reduce for Ce substituted UO2 as compared to pure UO2. The electronic density of states analysis shows that Ce substitution levels as well as the oxidation state of Ce/U atoms strongly influences the band structure of the UO2 lattice. The specific heat capacity of Ce doped UO2 structures is calculated at different Ce doping concentrations and for disparate charge balancing procedures using the quasi harmonic approximation(QHA). Present results show good agreement with the experimental values reported for similar Ce substituted UO2 structures. Thus, the systematic investigation with varying Ce fission product concentrations and oxidation states of cations (Ce and U) can give insight into the fuel properties of UO2 under reactor conditions.