The complex transition metal hydride Mg3CrH8 has been previously synthesized using high pressure conditions. It contains the first group 6 homoleptic hydrido complex, [Cr(II)H7]5-. Here, we investigated the formation of Mg3CrH8 by in situ studies of reaction mixtures of 3MgH2-Cr-H2 at 5 GPa. The formation of the known orthorhombic form (o-Mg3CrH8) was noticed at temperatures above 635 °C, albeit at a relatively slow rate. At temperatures around 750 °C a high temperature phase formed rapidly, which upon slow cooling converted into o-Mg3CrH8. The phase transition at high pressures occurred reversibly at ∼735 °C upon heating and at ∼675 °C upon slow cooling. Upon rapid cooling, a monoclinic polymorph (m-Mg3CrH8) was afforded which could be subsequently recovered and analyzed at ambient pressure. m-Mg3CrH8 was found to crystallize in P21/n space group (a = 5.128 Å, b = 16.482 Å, c = 4.805 Å, β = 90.27°). Its structure elucidation from high resolution synchrotron powder diffraction data was aided by first-principles DFT calculations. Like the orthorhombic polymorph, m-Mg3CrH8 contains pentagonal bipyramidal complexes [CrH7]5- and interstitial H-. The arrangement of metal atoms and interstitial H- resembles closely that of the high pressure orthorhombic form of Mg3MnH7. This suggests similar principles of formation and stabilization of hydrido complexes at high pressure and temperature conditions in the Mg-Cr-H and Mg-Mn-H systems. Calculated enthalpy versus pressure relations predict o-Mg3CrH8 being more stable than m-Mg3CrH8 by 6.5 kJ/mol at ambient pressure and by 13 kJ/mol at 5 GPa. The electronic structure of m-Mg3CrH8 is very similar to that of o-Mg3CrH8. The stable 18-electron complex [CrH7]5- is mirrored in the occupied states, and calculated band gaps are around 1.5 eV.