Preparing a polylactide (PLA)/plasticizer system has been regarded as an effective solution to improve the ductility of brittle PLA. In this reach, a novel type of alkyl phosphine oxides consisting of three aliphatic ester substituents was prepared from PH3 tail gas, and its potential to be employed as a PLA plasticizer was studied. Differential scanning calorimeter tests confirmed that the newly‐prepared plasticizer decreased the Tg of PLA (28 wt% plasticizer) from 52°C (neat PLA) to 11°C, and increased the elongation at break from 11% (neat PLA) to 271% (plasticized PLA). X‐ray diffraction results showed that the crystallization degree of PLA (28 wt% plasticizer) increased from 0.12% of neat PLA to 14.04%, while Young's modulus of PLA remained as high as 121.3 MPa, which was much higher than that of the PLA/citrate ester systems with same plasticizer content. These novel phosphorus‐containing plasticizers exhibited excellent thermal stability and a weight‐loss of the system no more than 2.5% at 180°C; therefore, no unpleasant volatiles were released during processing. In contrast, the weight loss of the PLA/citrate system was as high as 10.8% at 180°C, forming heavy fog with an unpleasant smell during thermal mixing. Scanning electron microscopy was employed to observe the microstructure of the PLA/plasticizer systems, which indicated that the carboxylic butyl ester‐containing phosphine oxides was compatible with PLA matrix.