A series of cationic complexes [Rh(diene){Ph 2 P(CH 2 ) n Z}] [BF 4 ] (diene = 1,5-cyclooctadiene (cod), tetrafluorobenzobarralene (tfb) or 2,5-norbonadiene (nbd)) containing functionalized phosphine ligands of the type Ph 2 P(CH 2 ) n Z (n = 2, or 3; Z = OMe, NMe 2 , SMe) have been prepared and characterized. These complexes have shown a great catalytic activity for phenylacetylene (PA) polymerization. Catalyst screening and optimization have determined the superior performance of complexes containing a P,N-functionalyzed phosphine ligand, [Rh(diene){Ph 2 P(CH 2 ) 3 NMe 2 }][BF 4 ] (diene = cod 5, tfb 6, nbd 7), and tetrahydrofuran as solvent. The influence of the diene ligand and the effect of temperature, PA to rhodium molar ratio, addition of water or a co-catalyst, DMAP (4-(dimethylamino)pyridine), have been studied. Diene ligands strongly influence the catalytic activity and complexes 6 and 7 are far more active than 5. Both complexes gave polyphenylacetylene (PPA) with very high number-average molecular weights (M n ) of 970 000 (6) and 1 420 000 (7). The addition of DMAP resulted in a dramatic drop in the PPA molecular weight, 106 000 (6) and 233 000 (7,). The PPA obtained with the system 6/DMAP showed a narrow molecular weight distribution (M w /M n = 1.20) and incremental monomer addition experiments have demonstrated the quasi-living nature of the polymerization reaction under these conditions. The PPA obtained with these catalytic systems has been characterized by 1 H and 13 C{ 1 H} NMR spectroscopy and shows a cis-transoidal configuration with a high level of steroregularity (cis content superior to 99%). TGA, DSC, and IR analysis have revealed a thermal cis↔trans