Conjugate addition of ethanol and subsequent oxidation with [bis (trifluoroacetoxy)iodo]benzene (PIFA) allowed for the inner ethoxylation of 3‐oxo‐N‐confused tetraphenylporphyrin (ONCP). First oxidation of ONCP with PIFA followed by treatment with ethanol gave two more N‐confused phlorins derivatives 5 and 6.