The synthesis of the novel 1‐(substituted phenoxy/phenyl)‐2‐phospholene and phospholane 1‐oxide derivatives, which are analogs of sugars having a phosphorus atom in place of the ring oxygen of normal sugars, is described. All of the synthesized derivatives are structurally characterized by multi nuclear NMR, mass, and IR spectral data, elemental and X‐ray crystallographic analyses.