The reaction of phosphonates with a binaphthyl group with a range of Grignard reagents was complete within 2 h at 0 °C to give phosphinates with a hydroxybinaphthyl group with high efficiency and diastereoselectivity. The resulting phosphinates were further subjected to the substitution reaction with MeMgBr. The reaction at reflux temperature in THF or toluene enabled the formation of P-chirogenic tertiary phosphine oxides with a high enantiomeric ratio. Rare examples of P-chirogenic alkynyl phosphine oxides were also obtained. The sequential one-pot substitution reaction of phosphonates with a binaphthyl group with two different Grignard reagents successfully gave the corresponding P-chirogenic phosphine oxides with an enantiomeric ratio nearly equal to those of oxides derived from two-step reactions.