We report the appearance of weak ferromagnetism above the long-range canted antiferromagnetic order TN = 553 K at which the Fe-Cr interactions become dominant in YFe0.9Cr0.1O3. The weak ferromagnetic order above TN appears due to the increasing magnetic interactions in Fe-sublattices resulting in a canted antiferromagnetic transition at TFe-Fe = 620 K. Electrical hysteresis loop studies and Positive-Up Negative-Down protocol measurements reveal spontaneous but weak ferroelectricity in the system. Dielectric measurements as a function of temperature and frequency reveal a relaxorlike dielectric anomaly within a temperature interval of 400–500 K and anomalous signatures at and temperatures above TN. Synchrotron x-ray diffraction studies over a broad temperature range, 298–873 K, illustrate a significant magnetoelastic coupling at TN and around TFe-Fe. Isostructural distortions are further revealed over the temperature range of 400–500 K from the x-ray diffraction studies. Analyses of the diffraction patterns reveal the delicate interplay between the in-plane and out-of-plane exchange interactions over TN and in isostructural distortion regions. We strongly argue that the ferroelectricity in YFe0.9Cr0.1O3 results from the magnetostriction and Dzyaloshinskii-Moriya interaction manifested through a significant magnetoelastic coupling at TN and TFe-Fe.