Enantiomerically pure hydroxyalkylphosphonates (over 95% of enantiomeric excess) were obtained by asymmetric reductive biotransformation of a variety of oxoalkylphosphonates catalyzed by baker's yeast. In the most cases the biotransformations were carried out in water under aerobic conditions using whole cell system. In the case of compounds unreactive under these conditions the anaerobic reduction was applied. (C) 2000 Elsevier Science Inc. All rights reserved.