The phase equilibria in the SnTe-Sb₂Te₃ system were re-investigated by a combination of Differential Thermal Analysis (DTA), Powder x-ray Diffraction (PXRD), and Scanning Electron Microscope equipped with Energy Dispersive x-ray Spectrometer (SEM-EDS) techniques. In an earlier reported version, this phase diagram was described as quasi-binary with only one intermediate compound, namely SnSb₂Te₄. Here we report the existence of the new van der Waals type compound SnSb₄Te₇ for the first time. Considerable homogeneity ranges for both ternary compounds are also revealed. According to DTA results, peritectic melting was found for both compounds. The corresponding temperatures were found to be 595 and 593 °C for SnSb₂Te₄ and SnSb₄Te₇, respectively. The PXRD pattern of the newly found phase was analyzed through the Rietveld method and the crystal structure was solved. In the considered quasi-binary system, two wide solid-solubility areas based on the constitutive compounds were also revealed.