A wide range of -aryl--diazophosphonates was easily prepared via modified diazo transfer reaction. Benzylphoshonates reacted with tosyl azide (TsN3) in the presence of potassium tert-butoxide (KOtBu) to afford diazophosphonates in yields up to 93% (generally 70-80%). Aryl-diazophosponates were successfully explored for the synthesis of 5-aryl substituted pyrazol-3-carboxylates in one pot by the 1,3-dipolar cycloaddition with alkyl acrylates followed by NaH treatment. The second stage led to elimination of the diethoxylphosphoryl moiety with the aromatization of cycle.