Single phase samples of LaCr1−xFexO3 for x = 0–0.50 were prepared and their magnetic properties were studied to understand the magnetization reversal. Magnetization reversal was observed even for 5 at. % of Fe doping and it persisted up to x = 0.15. Ferromagnetic like behavior with a large coercive field of the order of 0.5 T was observed in the intermediate composition range of x = 0.20–0.40. However, for x = 0.45 and 0.50, magnetization reversal was again observed. Magnetization reversal was studied in detail by carrying out field cooled magnetization measurements for different applied magnetic fields. The mechanism of magnetization reversal for low Fe concentrations (x = 0.05–0.15) is basically due to the paramagnetic behavior of doped Fe ions under the influence of negative internal field arising from the antiferromagnetically ordered Cr3+ ions. The value of maximum negative internal field was estimated to be −3.5 kOe. On the other hand, the mechanism of magnetization reversal for x = 0.45 and 0.50 samples is found to be quite different. They could be quantitatively analyzed based on the model, where the competition between single ion anisotropy and Dzyaloshinsky–Moriya interaction is taken into account.