The chemistry of ferrocene attracts considerable research interest even more than 50 years after its discovery, being stimulated mainly by applications of ferrocene ligands in catalysis. To the present day, the design of new ferrocene compounds ensued—sometimes by serendipity—the preparation of unprecedented coordination compounds and organometallic materials and, in the case of ferrocene compounds containing appropriate donor sets, led to numerous successful catalytic systems. This review provides a systematic survey of the chemistry of phosphanyl‐ferrocenecarboxylic ligands as a specific class of hybrid ferrocene ligands that emerged about ten years ago, illustrating their synthesis, coordination behaviour, and catalytic applications. Attention is also paid to the structural chemistry of these functional ferrocene ligands. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2005)