The field of organocatalysis is growing rapidly and attracts an increasing number of research groups. Most organocatalysts can be classified as Lewis bases, Lewis acids, Brønsted acids and Brøn-A C H T U N G T R E N N U N G sted bases. However, examples of Lewis acid organocatalysis under homogeneous conditions are comparatively rare. Phosphonium salts are easily accessible and frequently used intermediates in organic synthesis, long known phase-transfer catalysts and potential Lewis acid organocatalysts. This review covers the application of phosphonium salts as Lewis acidic catalysts for a variety of C À C, C À O and C À N bondforming reactions under homogeneous conditions. Moreover, recent developments are included which show the potential of chiral phosphonium salts as asymmetric (phase-transfer) catalysts.