A series of 4, 4′‐ and 5, 5′‐functionalized (S)‐ and (R)‐2, 2′‐bis(diphenylphosphanyl)‐1, 1′‐binaphthyl oxide (BINAPO) derivatives were prepared by Suzuki‐Miyaura coupling from 4, 4′‐ and 5, 5′‐dibromo‐BINAPO and the corresponding boronic acid, RB(OH)2 [R = 4‐(methoxycarbonyl)phenyl, 3‐pyridyl and 4‐pyridyl]. The carboxylic acid‐substituted BINAPO derivatives were obtained from the esters by saponification with NaOH. The novel BINAPO derivatives were fully characterized by NMR (1H, 13C, 31P), IR spectroscopy, and mass spectrometry, and for (S)‐4, 4′‐bis(3‐pyridyl)‐BINAPO, (S)‐5, 5′‐bis(3‐pyridyl)‐BINAPO, and (S)‐ and (R)‐4, 4′‐bis(4‐carboxyphenyl)‐BINAPO also by X‐ray crystallography. They are thermally stable up to 400–440 °C as determined by DTA/TG analysis.