The two-dimensional spin-1 Baxter-Wu model is studied by using Monte Carlo simulations. The standard single-spin-flip Metropolis algorithm is used to generate the configurations from which the order parameter, specific heat and magnetic susceptibility are measured. The finite-size scaling procedure is employed in order to get the critical behavior. Extensive simulations show that the critical exponents are different from those of the spin-1/2 model suggesting that the spin-1 model is in a different universality class.