2-(2-Hydroxyphenyl)-2-oxoacetate(I) is obtained from cyclohexanone and ethyl glyoxylate in two steps. Firstly, the condensation of cyclohexanone and ethyl glyoxylate furnished ethyl 2-hydroxy-2-(2-oxocyclohexyl)acetate(VII), then the final product I was synthesized through the oxidization and aromatization of VII with HIO3-DMSO. The reaction condition of each step was studied. The optimal process condition is that the yield of product VII is up to 65.4% when the catalyst is trifluoroacetic acid and the ratio of glyoxylate ethyl ester and cyclohexanone is 1:10 and the yield of I is 60.0% when HIO3-DMSO was two equivalents of VII. The structure of product I is confirmed by 1H NMR, 13C NMR spectra and MS.