The asymmetricreduction of α‐methoxy β‐ketoesters through transfer hydrogenation with a new rhodium(III) complex was developed. The reaction was efficient in 2‐MeTHF with formic acid/triethylamine or in water with sodium formate. The corresponding syn α‐methoxy β‐hydroxyesters were obtained with high diastereoselectivities and excellent levels of enantioselectivity through a dynamic kinetic resolution