A series of polyarylates containing phosphorus (pho‐PARs) were synthesized from bisphenol A with different molar ratios of bis‐(4‐carboxyphenyl) phenyl phosphine oxide (BCPPO) to terephthalic acid (TPA). When the contents of BCPPO are in the range of 0.4–1.0, the pho‐PARs are readily soluble in a wide range of organic solvents and have the glass transition temperatures of 243.0–260.4°C. The initial degradation temperatures of these pho‐PARs are all above 450°C and their char yields at 800°C under nitrogen atmosphere are in the range of 28.7–33.0%, suggesting they have excellent thermal stability. The results of TG‐FTIR and FT‐IR show the introduction of BCPPO change the decomposition model of the pho‐PARs. The limiting oxygen indexes are at a range of 30.7–34.5%, which suggests that the pho‐PARs are a kind of excellent inherent flame retardant materials. © 2013 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 130: 3521–3529, 2013