Ethyl benzoylacetate is used as a flavoring agent and an intermediate in organic synthesis. Further, it is used in the preparation of triazipinones, iodonium ylides, ethyl 2-fluoro-2-benzolyacetate and benzo[c]furan-4,7-diones. It is involved in the Clisen condensation reaction with malononitrile to prepare 2-cyano-5-phenyl-3,5-dioxopentanonitrile.