The results of a thermodynamic simulation of the reduction of the elements of the oxide system corresponding to the chromium ore composition (%) 40 Cr2O3, 21 FeO, 15 Al2O3, 6 SiO2, 16 MgO, 2 CaO, and 0.006 P2O5 by the silicon of ferrosiliconickel (28 Fe, 65 Si, 7 Ni) are presented. The HSC Chemistry 6.12 software (Outokumpu Research Oy, Finland) is used for the simulation. The thermodynamic simulation is performed for seven compositions of an ore–lime mixture differed in the CaO content (17–55%). The calculations are performed using the Equilibrium Compositions module at 1700°C, the reducer consumption 1.05mred (mred is the reducer weight stoichiometrically necessary for the reduction of chrome and iron), and the gas phase pressure 0.1 MPa (1 atm). The main results of the calculations performed are given in graphical dependences of the change in the degree of reduction of chromium (ηCr), the amount of silicon used in reduction (φSi), and the chemical compositions of the metal and slag on the slag basicity (CaO)/(SiO2) and the reducer consumption. The degree of reduction of chromium increases by 32.7% (from 64 to 95.1%) in the range of an increase in the slag basicity from 0.07 to 1.86 at φSi = 94.5%. The rational basicity of slag is shown to be 1.86–1.9. The metal of the following chemical composition is formed: 50.4 Cr, 1.97 Si, 3.3 Ni, 0.21 Al, 0.0050 P, and Fe for balance. The influence of the amount of reducer on the degree of reduction of chromium and the chemical compositions of the metal and slag at 1700°C and a slag basicity of 1.86 is studied. An increase in the reducer consumption from 0.5mred to 1.05mred makes it possible to increase the reduction of chromium by 52.4% and to reach ηCr = 95.1%, which is close to the industrial parameters of low-carbon ferrochrome manufacturing. 100% degree of reduction of chromium is achieved at the reducer consumption 2.5mred. The results of the thermodynamic simulation can be used for technological calculations of the reduction of chromium ore elements by ferrosiliconickel.