Chiral triaryl phosphates promote the enantioselectiveiodolactonization of 4‐substituted 4‐pentenoic acids to give the corresponding iodolactones in high yields with high enantioselectivity. N‐Chlorophthalimide (NCP) is employed as a Lewis acidicactivator and oxidant of I2 for the present iodolactonization. In combination with 1.5 equivalents of NCP, only 0.5 equivalents of I2 are sufficient to generate