We report the possible mechanism of forming of CdSe nanocrystals in the high boiling point solvents with long alkane chains and a novel Non-TOP-Based route to zinc-blende CdSe nanocrystals. A new mechanism shows that there exits a redox reaction in the long alkane chain solvents: Se is reduced to H2Se gas; at the same time, the long alkane chains are oxidated to alkene chains; then, the Cd complex reacts with H2Se to form CdSe nanocrystals. Possible chemical reaction equations involved in the process of forming the CdSe nanocrystals have been discussed. The alkene chain and H2Se were detected respectively by a series of experiments to support the new mechanism. Under the guidance of this mechanism, we have developed a much cheaper and greener Non-TOP-Based route for the synthesis of a size series of high-quality zincblende (cubic) CdSe nanocrystals. Low-cost, green, and environmentally friendlier reagents are used, without use of expensive solvents such as trioctylphosphine (TOP) or tributylphosphine (TBP). The new route enables us to achieve high-quality CdSe nanocrystals with sharp ultraviolet and visible (UV-vis) absorption peaks, controllable size (2.0-5.0 nm), bright photoluminescence (PL), narrow PL full width of half-maximum (fwhm) (29-48 nm), and high PL quantum yield (up to 60%) without any size sorting.