AbstractThe isolation and characterization of a rhodacycle intermediate implicated in rhodium‐catalyzed reactions of alkylidenecyclopropanes (ACPs) is described. The structure of the metallacycle was unambiguously determined by X‐ray crystallography and is catalytically competent in the rhodium‐catalyzed carbocyclization and ene‐cycloisomerization reactions of ACPs. This work represents a rare example of the isolation of a metallacycle in a metal‐catalyzed higher‐order carbocyclization reaction and thereby provides important insight into the ligand requirements for the insertion of π‐components. Furthermore, it serves as a convenient synthon for the development of challenging higher‐order carbocyclization reactions, as exemplified by the reaction with an activated allene.