The phasor data were compressed as separated amplitudes and phases in previous synchrophasor data compression techniques. To utilize the spatial correlation and temporal continuity of synchrophasors for data compression, a phasor principal component analysis (PPCA) in the field of complex numbers is proposed to compress synchrophasors as a whole in this article. Then, an iterative phasor principal components selection method is proposed to achieve PPCA and ensure the accuracy of reconstructed data since the existing eigenvalue-based criteria are not suitable for data compressions. Moreover, the proposed PPCA is enhanced by an iteration-based process to reduce the computation of PPCA. Actual PMU data measured under both a low-frequency oscillation incident and a two-phase short circuit incident conditions are used to verify the performance of PPCA compared with a recent PCA-based compression method. The results demonstrate that PPCA achieves higher compression ratios with better accuracy of reconstructed data, significantly reduced computation, and better real-time performance under both conditions.