Low‐coordinate organoCr(III) complexes supported by the silylamido ligand –N(SiMe3)DIPP (DIPP = 2,6‐diisopropylphenyl) are ethylene polymerization catalyst precursors without the need of additional cocatalyst. The reaction of CrCl3(THF)3 with 3 or 2 equiv. of LiN(SiMe3)DIPP yields either a four‐membered cyclometalated Cr complex or Cr[N(SiMe3)DIPP]2Cl, respectively, with no trace of Cr[N(SiMe3)DIPP]3. Addition of 1 equiv. of LiN(SiMe3)DIPP to Cr[N(SiMe3)DIPP]2Cl also leads to the four‐membered metallacycle, which upon heating transforms to a new six‐membered Cr metallacycle, likely via a σ‐bond metathesis step. Cr[N(SiMe3)DIPP]2Cl can be readily converted to bis(amido)Cr(III) vinyl and alkyl complexes Cr[N(SiMe3)DIPP]2R (R = vinyl, Bn, and Me). All of these structurally characterized low‐coordinate Cr(III) complexes with a Cr–C bond initiate the polymerization of ethylene in the absence of activators or cocatalysts, producing ultra‐high‐molecular weight polyethylene.