The reaction of (S)‐α,α‐diphenylprolinol with an excess of borane–tetrahydrofuran complex yields a stable crystalline material with the composition C34H38B2N2O2, which features a borane adduct of a spirocyclic structure with two oxazaborolidine rings joined by a central tetrahedral B atom. This dimeric oxazaborolidine complex, viz. 3,3,3′,3′‐tetraphenyl‐1,1′‐spirobi(3a,4,5,6‐tetrahydro‐3H‐pyrrolo[1,2‐c][1,3,2]oxazaborole)–7‐borane, is the dominant product under various reaction conditions; its crystal structure is consistent with 11B, 1H and 13C NMR and IR analyses.