The novel Co-based Gd3Co29-xCrx compounds with a Nd3(Fe,Ti)29-type structure have been synthesized successfully for x=65 and 70 The crystal structure and magnetic properties of the Gd3Co29-xCrx compounds have been investigated by x-ray diffraction analysis and magnetic measurements. It has been found that Gd3(Co,Cr)29 with x=65 and 70 are ferrimagnetic with the Curie temperature of 412 K for x=65 and 359 K for x=70. Temperature dependence of magnetization shows a compensation point of the magnetization at a certain temperature below Curie point. The intersublattice molecular field coefficient, nRT, was derived to be 33 T f.u./μB for Gd3Co225Cr65 on the basis of the magnetization curve at the compensation temperature. It is noteworthy that the Gd3(Co,Cr)29 compounds exhibit a favourable easy-axis anisotropy in the whole temperature range below the Curie temperature.