Monodentate phosphine-functionalized phosphonium ionic liquids (PFILs) were employed as ligands for Rh complexes and used in the hydroformylation of higher alkenes. Three PFILs were designed by varying the length of the P-alkyl chain attached to the phosphonium moiety, for alkyl = methyl (1), butyl (2), octyl (3), in order to tune their solubility properties. In all PFILs, the phosphonium unit is linked to a diphenylphosphino functionality by an undecyl linker, with bis(trifluoromethylsulfonyl)imide as counter anion. These PFILs were combined with a Rh(I) precursor, [Rh(acac)(CO)₂], to provide a biphasic hydroformylation catalyst for the transformation of 1-octene, 1-decene and 1-dodecene using tetradecyltributylphosphonium bis(trifluoromethylsulfonyl)imide, [P_4,4,4,14]NTf₂ as a solvent. Good activities and excellent selectivities were obtained for these PFILs-Rh(I) complexes. Variation of the P-alkyl length in the PFIL ligand influenced the stability, catalytic activity and selectivity of the PFIL-stabilized catalyst.