Binary compound Y3Fe29cannot be directly formed by rare earth Y and Fe and the third element M (non-iron transition elements) must be introduced to form ternary compound Y3(Fe,M)29. In this work, six alloys with compositions of the Y3Fe29-xCrx(x=1,2,3,4,5,6) were prepared and investigated by X-ray diffraction (XRD), Scanning electron microscopy (SEM) and differential thermal analysis (DTA). The study on the thermal stability of these compounds points to that the compoundY3(Fe,Cr)29is a high temperature phase and exists above 1100K. The alloys with single-phase of Y3(Fe,Cr)29was decomposed into Y2(Fe,Cr)17and Y(Fe,Cr)12annealed at high temperature 1100K.