Some novel 1,3,4‐oxadiazoline and 1,3,4‐oxadiazole derivatives have been synthesized from 3‐hydroxy‐5,6‐diphenyl‐1,2,4‐triazine. Illucidation of the structures of the isolated products has been proved in the light of their elemental analysis, spectroscopic data and unambiguous synthesis in certain cases. Some derivatives have shown promising anti‐inflammatory activity in comparison to phenylbutazone.