Subtle changes in chemical bonds may result in dramatic revolutions in magnetic properties in solid-state materials. MnPt5P, a derivative of the rare-earth-free ferromagnetic MnPt5As, was discovered and is presented in this work. MnPt5P was synthesized, and its crystal structure and chemical composition were characterized by X-ray diffraction as well as energy-dispersive X-ray spectroscopy. Accordingly, MnPt5P crystallizes in the layered tetragonal structure with the space group P4/mmm (No. 123), in which the face-shared Mn@Pt12 polyhedral layers are separated by P layers. In contrast to the ferromagnetism observed in MnPt5As, the magnetic properties measurements on MnPt5P show antiferromagnetic ordering occurs at ∼188 K with a strong magnetic anisotropy in and out of the ab-plane. Moreover, a spin-flop transition appears when a high magnetic field is applied. An A-type antiferromagnetic structure was obtained from the analysis of powder neutron diffraction (PND) patterns collected at 150 and 9 K. Calculated electronic structures imply that hybridization of Mn-3d and Pt-5d orbitals is critical for both the structural stability and observed magnetic properties. Semiempirical molecular orbitals calculations on both MnPt5P and MnPt5As indicate that the lack of 4p character on the P atoms at the highest occupied molecular orbital (HOMO) in MnPt5P may cause the different magnetic behavior in MnPt5P compared to MnPt5As. The discovery of MnPt5P, along with our previously reported MnPt5As, parametrizes the end points of a tunable system to study the chemical bonding which tunes the magnetic ordering from ferromagnetism to antiferromagnetism with the strong spin-orbit coupling (SOC) effect.