AbstractReactions of dimethyl benzoylphosphonate (I) with various nucleophiles are described. The ester can serve simply as a useful benzoylation agent or it can undergo addition reactions to give substituted α‐hydroxybenzylphosphonates. Its keto‐group can be reduced to hydroxyl and can participate in the Wittig‐Horner reaction. By the action of I with hydroxylamine in the presence of sodium formate, benzonitrile is ob