Olefins undergo cyclopropanation with diphenylsulfonium (ethoxycarbonyl)methylide (=diphenylsulfonium 2‐ethoxy‐2‐oxoethylide; 3a) in the presence of chiral CuI or RhII catalysts. trans/cis Ratios and ee's of the cyclopropanes 6 obtained with this ylide in the presence of a chiral CuI catalyst 7 are identical with those obtained with ethyl diazoacetate (4). In the case of catalysis with RhII, the trans/cis ratios of the cyclopropanes as well as the enantioselectivity change slightly upon going from the ylide 3a to diazoacetate 4.