The present invention relates to processes for producing borohydride compounds. In particular, the present invention provides efficient processes and compositions for the large-scale production of borohydride compounds of the formula YBH.sub.4 by the reaction of a boron-containing compound represented by the formula BX.sub.3 with hydrogen or an aldehyde to obtain diborane and HX, and reacting the diborane with a Y-containing base selected from those represented by the formula Y.sub.2O, YOH and Y.sub.2CO.sub.3 to obtain YBH.sub.4 and YBO.sub.2. Y is selected from the group consisting of the alkali metals, pseudo-alkali metals, alkaline earth metals, an ammonium ion, and quaternary amines of the formula NR.sub.4.sup.+, wherein each R is independently selected from hydrogen and a straight- or branched-chain C.sub.1-4 alkyl group, and X is selected from the group consisting of halide ions, --OH, --R' and --OR' groups, chalcogens, and chalcogenides, wherein R' is a straight- or branched-chain C.sub.1-4 alkyl group.