8‐Hydroxyphenathridines have been synthesized efficiently from N‐propargyl‐ortho‐furylanilines employing microwave‐mediated one‐pot intramolecular Diels–Alder reaction on furans (IMDAF) reaction and subsequent aromatization. The 8‐hydroxyphenathridines were also subjected to further functionalization; O‐alkylation and conversion to the corresponding triflate followed by Suzuki coupling. N‐Propargyl‐7‐furylindole and the corresponding indoline also underwent smooth IMDAF cyclization to give, after rearomatization, 7H‐pyrrolo[3,2,1‐de]phenanthridin‐9‐ol or the 4,5‐dihydro analog. These cyclization products could be further functionalized, i.e. O‐ or N‐alkylation and oxidation at C‐6. The oxidation could lead to 6‐oxo derivatives or pyrrolo[3,2,1‐de]phenanthridin‐6‐ium salts depending on the reaction conditions and structure of the substrate. The 9‐oxy‐pyrrolophenanthridines synthesized are structurally closely related to bioactive lycorine alkaloids.