X-ray diffraction with synchrotron radiation has been used to study in situ the chemical interaction of beta-rhombohedral boron with boron (III) oxide and phase relations in the B-B2O3 system at pressures up to 6 GPa in the temperature range from 300 to 2800 K. The B-B2O3 system has been thermodynamically analyzed, and its equilibrium phase diagram at 5 GPa has been constructed. Only one thermodynamically stable boron suboxide, B6O, exists in the system. It forms eutectic equilibria with boron and B2O3.