The novel isostructural series of phases RMgSn2 (R = Y, La–Nd, Sm, Gd–Tm, Lu) is presented. They were prepared by direct synthesis in an induction furnace and subsequently annealed at 500 °C. Their crystal structures were determined through single‐crystal X‐ray diffraction analysis of the Ce representative [I42m, tI32‐LaMgSn2, Z = 8, a = 0.82863(3) nm, c = 1.23129(5) nm] and confirmed by powder X‐ray diffraction analysis of the other members of the series. Rietveld refinements were also performed on the homologues with R = Pr, Tm, and Y. The title phases show a unique space distribution of atoms, characterized by the presence of a Sn–Sn dumbbell distanced at around 0.29 nm. Their structures are related to those of a few binary AeTt3 (Ae = alkaline earth; Tt = Si, Ge; I4/mmm, tI32‐YbSi3) compounds that are stable at high pressure, characterized by a more complex 3D covalently bonded Tt network. Compounds CeMgSn2 and TbMgSn2 were magnetically characterized; they show paramagnetic behavior with the presence of ferromagnetic interactions, more pronounced in the case of TbMgSn2, as suggested by the Curie–Weiss temperatures, determined in the high‐temperature range, of 0.96 and 27.6 K for CeMgSn2 and TbMgSn2, respectively.