A 1:1 mixture of water‐polyethylene glycol (PEG) facilitated the 1,3‐dipolar cycloaddition of benzoylnitromethane/ethyl 2‐nitroacetate with terminal alkynes or alkenes leading to isoxazoles or isoxazolines under green conditions. The methodology is free from the use of any base, catalyst, dehydrating agent or hazardous solvent.magnified image