Two series of LiNbO3:Mg:B crystals have been grown and studied. Two doping methods—have been used. The crystals—have been co-doped with Mg and a non-metallic dopant, B. The physicochemical features of the growth—have been considered for LiNbO3:Mg:B crystals obtained from a boron-doped melt. The charge—has been prepared using different technologies: homogeneous (HG) and solid-phase (SP) doping. The same two methods have been used to grow single-doped LiNbO3:Mg crystals. A control near-stoichiometric (NSLN) crystal—has been grown via the HTTSSG (high-temperature top-seeded solution growth) method from a congruent melt (Li/Nb ≈ 0.946) with 5.5 wt% K2O. The characteristics of the LiNbO3:Mg:B crystals—have been compared with those of the LiNbO3:Mg and NSLN crystals. Physicochemical and structural reasons have been established for the differences in the distribution coefficients of magnesium (KD) during the growth of the HG- and SP-doped LiNbO3:B:Mg and LiNbO3:Mg crystals. The optical characteristics of the LiNbO3:B:Mg crystals—have been studied via optical spectroscopy, laser conoscopy and photoinduced light scattering (PILS). The influence of boron on the microstructure, compositional and optical uniformities and optical damage resistance of the LiNbO3:Mg:B crystals—has been estimated. Optimal technological approaches to growing optically uniform LiNbO3:B:Mg crystals have been determined. LiNbO3:Mg:B crystals have been shown to have a significant advantage over the commercially used LiNbO3:Mg crystals since large LiNbO3:Mg:B crystals can be grown without stripes. Such stripes usually appear perpendicular to the growth axis. In addition, the photorefractive effect is suppressed in LiNbO3:Mg:B crystals at lower magnesium concentrations ([Mg] ≈ 2.5 mol%) than in LiNbO3:Mg ([Mg] ≈ 5.5 mol%).