The title compound, ethyl 2-hydroxy-4-oxo-2-phenylcyclohexanecarboxylate, C(15)H(18)O(4), was obtained by a Michael-Aldol condensation and has the cyclohexanone in a chair conformation. The attached hydroxy, ethoxycarbonyl and phenyl groups are disposed in beta-axial, beta-equatorial and alpha-equatorial configurations, respectively. An intermolecular hydrogen bond, with an O.O distance of 2.874 (2) A, links the OH group and the ring carbonyl. Weak intermolecular C-H.O=C (ester and ketone), O-H.O=C (ketone) and C-H.OH hydrogen bonds exist.