An inexpensive BF3·Et2O-catalyzed annulation reaction of arylacetaldehydes with arylalkynes has been developed. Various substituted phenylacetaldehydes and phenylacetylenes can undergo this reaction, producing corresponding α-aryl substituted naphthalenederivatives. Use of inexpensive and readily available BF3·Et2O catalyst constitutes the most attractive advantage of this transformation.