A cubic Sr2FeCrO6-y phase, for which no crystallographic data has been previously reported, was synthesized through solgel assisted method for the first time. EDTA and chitosan were used as chelating agents. Calcining and subsequent argon-annealing techniques were used. Analysis of the product by SQUID magnetometry showed that the material exhibited possible spin-glass transition or superparamagnetic behaviour below 50 K. The control of phase formation of the Sr2FexCr2-xO6-y (SFCO) system has been improved and the mechanisms of phase formation were better understood. With further investigations, it is hoped that SFCO series materials will be utilized in the manufacturing of electronic devices, fuel cells and other engineering areas.