The reaction of functionalized phosphodihydrazides RP(X)[NMeNH2]2 (R=Cl, N3) (1) with organic (2) or phosphorus (4) dialdehydes leads to the synthesis of di- or tetrafunctionalized phosphorus macrocycles 3a-d, 5a-h in good yield. PCl containing macrocycles are quantitatively converted to PN3 containing macrocyclic with sodium azide. All compounds are useful precursors of cryptands and multimacrocyclic species.