The monoacylphosphineoxide (MAPO) salts Na‐TPO and Li‐TPO and the bisacylphosphineoxide (BAPO) salts BAPO‐ONa and BAPO‐OLi define an important and in the latter case a new class of water‐soluble photoinitiators (PIs) for radical polymerization. These compounds showed excellent water‐solubility of at least 29 g/L for Na‐TPO and up to 60 g/L for BAPO‐ONa in deionized water, thus exceeding the solubility of the state of the art PI for water‐based systems Irgacure 2959 (I2959) 6‐ to 12‐fold. However, biocompatibility, storage stability, and reactivity were equally important to replace the state of the art compounds. Concerning these properties, the MAPO and BAPO salts were at least in the same range (biocompatibility, stability) or showed even better results (reactivity) and had the additional advantage of visible light initiation. Na‐TPO and Li‐TPO achieved double bond conversions of an aqueous solution of N‐acryloylmorpholine over 97% with broad band irradiation (320–500 nm), Li‐TPO showed additionally very good biocompatibility (LC50 = 3.1 mmol/L) and BAPO‐OLi showed highest reactivity with visible light irradiation. © 2015 Wiley Periodicals, Inc. J. Polym. Sci., Part A: Polym. Chem. 2016, 54, 473–479