Monocyclopentadienyl trialkoxy compounds of zirconium and hafnium [CpZr(OR)3 and CpHf(OR)3], which cannot be prepared by earlier methods, are synthesized in situ by reacting bis(cyclopentadienyl) magnesium with zirconium tetraalkoxides [Zr(OR)4] and with hafnium tetraalkoxides [Hf(OR)4], respectively. The generation of CpZr(OR)3 and CpHf(OR)3 compounds involves a highly effective cyclopentadienyl ligand (Cp) transfer reaction from the Cp ligand of bis(cyclopentadienyl) magnesium to Group 4 metal alkoxides. The utilization of CpZr(OR)3 and CpHf(OR)3 compounds as catalyst precursors for mediating α‐olefin polymerizations was carefully investigated. Results show that highly active catalysts can be generated by reacting these mono‐Cp Zr and Hf alkoxides with methylaluminoxane. The resulting active CpZr(OR)3/MAO and CpHf (OR)3/MAO catalysts induce ethylene polymerization and ethylene/propylene copolymerization with high activity (e.g., 1820 kg PE/mole of catalyst‐h). © 2010 Wiley Periodicals, Inc. J Appl Polym Sci, 2010