A catalytic phenylation reaction of α,β‐unsaturated acylazoliums with in‐situ‐generated phenolates was developed. A combination of N‐heterocyclic carbene and potassium ion cooperatively catalyzed the generation of α,β‐unsaturated acylazoliums and phenolates from α,β‐unsaturated phenolic esters for the efficient [3+3] annulation, which involves a dearomatization–rearomatization process. The approach gives good yields and excellent regioselectivities, and the products could be easily converted into high‐value polycyclic derivatives. Mechanistic studies demonstrated that the potassium ion plays a vital role in this reaction.