A novel distal radical rearrangement of alkoxyphosphine is developed for the first time and applied to the regioselective radical fluoroalkylphosphorylation of unactivated olefins. By employing a one‐pot two‐step reaction of (bis)homoallylic alcohols, organophosphine chlorides, and fluoroalkyl iodides under CFL (compact fluorescence light) irradiation, a series of fluoroalkylphosphorylated alkyl iodides and alcohols are easily synthesized by regiospecific installing a phosphonyl onto the inner carbon of terminal olefins and further iodination/hydroxylation. Mechanism studies reveal that the migration undergoes a distinctive radical cyclization/β‐scission on the lone electron pair of phosphorus, resulting in C−P bond formation and C−O bond cleavage. A regioselective radical fluoroalkylphosphorylation of unactivated alkenes is developed by a one‐pot reaction of (bis)homoallylic alcohols, phosphine chlorides, and fluoroalkyl iodides under compact fluorescence light (CFL) irradiation. This protocol employs a novel radical rearrangement of alkoxyphosphine to achieve the unusual installing of a phosphoryl in the inner side of the terminal olefins by the dehydroxylative trifunctionalization of (bis)homoallylic alcohols.