The thermal stability of BiFeO3 prepared by mechanosynthesis and sintered at 850 °C has been studied by DSC as a function of the atmosphere and temperature. It has been found that neither the phase transitions nor the thermal stability of BiFeO3 is affected by the atmosphere in which the heating process is performed. The material is unstable above the α–β transition (TC) and slowly decomposes to produce Bi2O3 and Bi2Fe4O9. The kinetics of this slow process has been studied by performing heating–cooling DSC cycles, concluding it follows an Avrami–Erofeev nucleation and growth kinetic model. The β–γ transition and the peritectic decomposition of BiFeO3 overlap and are kinetically controlled. The kinetics of this complex process has been studied for the first time employing a new kinetic analysis procedure implying the deconvolution and subsequent analysis of the individual contributing stages. Thus, it has been demonstrated that the decomposition of BiFeO3 is accelerated when the sample is heated above the β–γ transition and both processes also follow Avrami–Erofeev kinetic models.