The thermodynamic laws of interactions in the Cr-O-C system developing in the temperature range from 1273 to 1773 K are considered. The existing opinions concerning the mechanism of the solid-phase reduction of Cr 2 O 3 with carbon are analyzed. The leading role of CO-CO 2 gases that relate the solid reagents in the process is found on the basis of the reported data and our theoretical and experimental studies. The principal possibility of forming iron-chromium master alloys with a restricted carbon content in the solid state under energy-saving low-temperature conditions is established.