Using the evolutionary methodology for crystal structure prediction, we have predicted the orthorhombic Cmcm and Pnma phases for ScB4. The earlier proposed CrB4-, FeB4-, MnB4-, and ReP4-type structures for ScB4 are excluded. It is first discovered that the Cmcm phase transforms to the Pnma phase at about 18 GPa. Moreover, both phases are dynamically and mechanically stable. The large bulk modulus, shear modulus, and Young’s modulus of the two phases make it an optimistic low compressible material. Moreover, the strong covalent bonding nature of ScB4 is confirmed by the ELF analysis. The strong covalent bonding contributes greatly to its stability.