It is a mono-substituted benzene derivative, consisting of an acetone attached to a phenyl group.

Another laboratory synthesis involves conventional routes including the Friedel-Crafts alkylation reaction of chloroacetone with benzene in the presence of aluminum chloride catalyst.

Phenylacetone can undergo para-hydroxylation to 4-hydroxyphenylacetone, which occurs as a metabolite of amphetamine in the human body.

To prevent illicit synthesis of amphetamines from phenylacetone, the precursor phenylacetic acid is subject to regulation in the United States under the Chemical Diversion and Trafficking Act.

In the TV series Breaking Bad, Walter White manufactures methamphetamine using phenylacetone and methylamine through a reductive amination reaction.