Phosphino hydrazones represent a versatile class of nitrogen‐containing phosphine ligands. Herein, we report a modular synthesis of phosphino hydrazone ligands by hydrazone condensation reaction of three different aryl hydrazines with 3‐(diphenylphosphino)propanal (PCHO). Complexation reactions of these phosphino hydrazone ligands with palladium(II) and platinum(II) were investigated and the catalytic activity of the palladium(II) complexes was explored in a Cu‐free Sonogashira cross‐coupling reaction achieving yields up to 96 %. Additionally it was shown that the catalytically active species is homogeneous.