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In the crystal of the title compound, C16H19O4P, the molecules are dimerized with R22(10) ring motifs through the hydroxy and P=O O atoms. The dihedral angle between the aromatic rings is 66.89 (9)°. There are π–π interactions [centroid–centroid distance = 3.9669 (16) Å] between the benzene rings of adjacent benzyl groups. A C—H...π interaction between the aromatic rings where C—H is from a benzyl group is also present.