The coordination chemistry of the bidentate P,N hybrid ligand 2-(2'-pyridyl)-4,6-diphenylphosphinine (1) towards Pd(II) and Pt(II) has been investigated. The molecular structures of the complexes [PdCl(2)(1)] and [PtCl(2)(1)] were determined by X-ray diffraction, representing the first crystallographically characterized λ(3)-phosphinine-Pd(II) and -Pt(II) complexes. Both complexes reacted with methanol at the P=C double bond at an elevated temperature, leading to the corresponding products [MCl(2)(1H·OCH(3))]. The molecular structure of [PdCl(2)(1H·OCH(3))] was determined crystallographically and revealed that the reaction with methanol proceeds selectively by syn addition and exclusively to one of the P=C double bonds. Strikingly, the reaction of [PdCl(2)(1H·OCH(3))] with the chelating diphosphine DPEphos at room temperature in CH(2)Cl(2) led quantitatively to [PdCl(2)(DPEphos)] and phosphinine 1 by elimination of CH(3)OH and rearomatization of the phosphorus heterocycle.