A series of phosphine-diphenylphosphenium donor-acceptor cationic complexes have been synthesized and comprehensively characterized (phosphine = diphenylchlorophosphine, triphenylphosphine, trimethylphosphine, and tricyclohexylphosphine). The complexes involve homoatomic P-P coordinate bonds that are susceptible to ligand exchange reactions highlighting a versatile new synthetic method for P-P bond formation. Phosphenium complexes of 1,2-bis(diphenylphosphino)benzene and 1,2-bis(tert-butylphos-phino)benzene undergo unusual rearrangements to give a "segregated" diphosphine-phosphonium cation and a cyclic di(phosphino)phosphonium cation, respectively. The rearrangement products reveal the kinetic stability of the phosphine-phosphenium bonding arrangement.