Phosphites are oxidized to phosphate esters:
:P(OR) + [O] →  OP(OR)
This reaction underpins the commercial use of some phosphite esters as stabilizers in polymers.
Alkyl phosphite esters are used in the Perkow reaction for the formation of vinyl phosphonates, and in the Michaelis–Arbuzov reaction to form phosphonates. Aryl phosphite esters may not undergo these reactions and hence are commonly used as stabilizers in halogen-bearing polymers such as PVC.
Phosphite esters may be used as reducing agents in more specialised cases. For example, triethylphosphite is known to reduce certain hydroperoxides to alcohols formed by autoxidation (scheme). In this process the phosphite is converted to a phosphate ester. This reaction type is also utilized in the Wender Taxol total synthesis.