Highly functionalized benzo[b]phosphole oxides were synthesized from reactions of arylphosphine oxides with alkynes under photocatalytic conditions by using eosin Y as the catalyst and N-ethoxy-2-rriethylpyricliniurn tetrafluoroborate as the oxidant. The reaction works under mild conditions and has a broad substrate scope. IviecharnStic investigations have been undertaken and revealed the formation of a ground state electron donor acceptor complex (EDA) between eosin (the photocatalyst) and the pyridinium salt (the oxidation agent). This complex, which has been fully characterized both in the solid state and in solution, turned out to exhibit a dual role, the oxidation of the photocatalyst and the formation of the initiating radicals, which undergoes an intramolecular reaction avoiding the classical diffusion between the two reactants. The involvement of ethoxy and phosphinoyl radicals in the photoreaction has unequivocally been evidenced by EPR spectroscopy.