Cationic photopolymerization of epoxides by the direct and sensitized photolysis of eight onium tetrakis(pentafluorophenyl)borates as initiators has been investigated. The relative reactivity of the onium berates on the photopolymerization was studied by the measurement of spectral sensitivity and by real time Fourier transform infrared spectroscopy. The kinetics of the photopolymerization by the sensitized photolysis was different from that of the direct photolysis. Several onium berates were sensitized by the excited singlet state of the anthracenes (nonsubstituted anthracene and 9-methyl- and 9,10-dimethylanthracene), and the rates of polymerization increased with decreasing free energy changes between the onium berates and the excited singlet state of 9-methylanthracene. The acid generated by the photodecomposition of the onium berates produced nonacidic products by heating.