The innovative construction of novel N,O-bidentate ligands represents a long-standing challenge for chemists. Here, we report an unprecedented approach for the construction of N,O-bidentate derivatives via the merging of ring deconstruction with cycloaromatization of indolizines and cyclopropenones. Without any catalysts, our method can deliver a series of polyaryl 2-(pyridin-2-yl)phenols in excellent yields. In addition, N,O-bidentate organic BF 2 complexes can also be constructed via this one-pot protocol.