An asymmetric hydrogenation of α‐oxymethylcinnamic acids was developed by using chiral spiro phosphine‐oxazoline/iridium complexes as catalysts to prepare β2‐hydroxycarboxylic acids with high reactivity (TON up to 2000) and excellent enantioselectivity (up to 99.5% ee). By using this highly efficient asymmetric hydrogenation as a key step, a concise total synthesis of natural product homoisoflavone (S)‐(+)‐4 was accomplished.