Compound of 4‐(ethoxycarbonyl)‐1,5‐diphenyl‐1H‐pyrazole‐3‐carboxylic acid 2 was obtained from the reaction of ethyl 4,5‐dioxo‐2‐phenyl‐4,5‐dihydrofuran‐3‐carboxylate and 1‐benzylidene‐2‐phenylhydrazine. A number of substitute pyrazole dicarboxylic acid derivatives (4, 5a, 5b, 5c, 6, 7, 8, 9a, 9b, 9c, 9d, 9e, 9f, 9g, 9h, 9i, 9j, 9k, 9l, 9m, 10, 11, 12, 13, 14) were synthesized from 1,5‐diphenyl‐1H‐pyrazole‐3,4‐dicarboxylic acid 3 which was prepared from basic hydrolysis of 2. Structures of synthesized compounds were characterized by 1H NMR, 13C NMR, Mass, FTIR, and elemental analysis. J. Heterocyclic Chem., (2010).