For the first time, enantiopure 1‐r‐oxo‐2‐c,5‐t‐diphenylphospholane was introduced as nucleophile in the multicomponent condensation reaction. Diastereoisomers of 2,5‐diphenyl‐1‐oxo‐1‐[alkylphenyl‐1‐(phenylamino) methyl] phospholane derivatives were synthesized by one‐pot process from aromatic aldehydes, anilines and enantiopure1‐r‐oxo‐2‐c,5‐t‐diphenylphospholane under green and eco‐compatible conditions. The reaction proceeds under catalyst‐free conditions at room temperature within very short time (3 min) in excellent yields (up to 95%). An X‐ray crystal structure has been obtained for 2,5‐diphenyl‐1‐oxo‐1‐[phenyl (phenylamino) methyl] phospholane.