A simple and direct approach for the regioselective construction of the privileged 2H‐indazole scaffold is described. The developed one‐pot strategy involves phospholene‐mediated N−N bond formation to access 2H‐indazoles. The amount of organophosphorus reagent was minimized by recycling the phospholene oxide with organosilane reductants. Starting from functionalized 2‐nitrobenzaldehydes and primary