P‐substituted stannylene (Ph2PCH2)(L)Sn containing N,C,N‐chelated ligand (L = [2,6‐(Me2NCH2)2C6H3]) was prepared. Complex was further oxidized to prepare P‐substituted organotin(IV) compounds (Ph2PCH2)(L)SnX2. Finally, P(S)‐substituted N‐coordinated stannylene [(Ph2P(S)CH2](L)Sn containing P atom in the oxidation state +V was also prepared. All these P‐substituted organotins were tested as the catalysts for the hydroboration of ketones to see the effect of oxidation numbers of Sn/P atoms. Stannylene (Ph2PCH2)(L)Sn showed remarkable conversions with TOF about 1800 h‐1 and it is suitable to the reduction of several ketones. The mechanistic studies are also discussed.