The first example of potassium tert-butoxide mediated aerobic hydroxylation of arylboronic acids is described. A variety of arylboronic acids bearing both electron donating and withdrawing substituents successfully participated in the reaction and furnished phenols in good yields. This strategy also provides access to one pot synthesis of (E)-3-phenoxy acrylates from arylboronic acids and propiolates. The solvent plays an important role and a binary solvent system comprising CH3CN/THF is found to be the best.