Boron-rich compounds have attracted much attention due to their interesting structures and excellent properties. Here, we performed an extensive study on the different B-P stoichiometries under pressure by combining a particle swarm optimization method with first-principles calculations. At 1 atm, BP and B6P are thermodynamically stable, while other stoichiometries are metastable. Under pressure, BP and B6P remain stable relative to constituent pure solids up to 80 GPa, while other stoichiometries become unstable at relatively low pressures. A new Cmca B6P is predicted with the lowest energy at 1 atm and shows higher shear strain than the R3̅m structure, which is known to be more resistant to brittle fracture than B4C. Moreover, the predicted Pm B8P is a magnetic semiconductor with a magnetic moment of 1 μB. All these boron-rich phosphides are hard materials. The present results enrich the B-P phase diagram and promote extensive research on their excellent properties.