Two rare-earth-containing ternary phosphides, Eu3Ga2P4 and Eu3In2P4, were synthesized by a two-step solid-state method with stoichiometric amounts of the constitutional elements. Refinements of the powder X-ray diffraction are consistent with the reported single-crystal structure with space group C2/c for Eu3Ga2P4 and Pnnm for Eu3In2P4. Thermal gravimetry and differential scanning calorimetry (TG-DSC) measurements reveal high thermal stability up to 1273 K. Thermal diffusivity measurements from room temperature to 800 K demonstrate thermal conductivity as low as 0.6 W/m·K for both compounds. Seebeck coefficient measurements from room temperature to 800 K indicate that both compounds are small band gap semiconductors. Eu3Ga2P4 shows p-type conductivity and Eu3In2P4 p-type conductivity in the temperature range 300-700 K and n-type conductivity above 700 K. Electronic structure calculations result in band gaps of 0.60 and 0.29 eV for Eu3Ga2P4 and Eu3In2P4, respectively. As expected for a valence precise Zintl phase, electrical resistivity is large, approximately 2600 and 560 mΩ·cm for Eu3Ga2P4 and Eu3In2P4 at room temperature, respectively. Measurements of transport properties suggest that these Zintl phosphides have potential for being good high-temperature thermoelectric materials with optimization of the charge carrier concentration by appropriate extrinsic dopants.