Abstract A CuI‐catalyzed oxidation of enynes using N‐hydroxybenzotriazole (HOBt) or N‐hydroxyphthalimide (NHPI) with molecular oxygen has been developed to yield propargyl hydroperoxides. The reaction occurs under O2 at 0 °C to afford hydroperoxides in 1–4 h. This method provides an alternative to H2O2 or tBuOOH by using molecular oxygen as the source of oxygen atoms. The resulting hydroperoxides can be protected prior to purification and converted into alkoxyamines upon treatment with hydrazine.