In this work, we have studied the crystal structure, microstructure, magnetic properties, and the effect of isothermal structural transition on the magnetic properties of Bi0.86Nd0.14Fe1-xCrxO3 (0.02 ≤ x ≤ 0.1) ceramic compounds. The analysis of X-ray diffraction patterns reveals a mixture of the R3c rhombohedral and PbZrO3-type orthorhombic phases. With increasing Cr concentration, the PbZrO3-type phase percentage is gradually increased from 33% for x = 0.02–63% for x = 0.1 at the expense of the R3c phase. The magnetic properties of compounds are mainly attributed to the destruction of the long-range incommensurate cycloidal spin structure in the orthorhombic symmetry. The isothermal structural transition (IST) is observed at room temperature when samples are stored in laboratory conditions. A remarkable change of magnetic properties is observed, which is believed originated from the IST and spin frustration at the phase boundary.