Given the hepatotoxicity and an unfavorable pharmacokinetic profile of zileuton (Zyflo®), currently the only approved and clinically used 5‐Lipoxygenase (5‐LO) inhibitor, the search for potent and safe 5‐LO inhibitors is highly demanded. The action of several phenolic acid phenethyl esters as potential 5‐Lipoxygenase (5‐LO) inhibitors has been investigated. For this purpose, a series of 14 phenethyl esters was synthesized and their impact on 5‐LO inhibition was evaluated. The effects of position and number of hydroxyl and methoxy groups on the phenolic acid were investigated. The shortening of the linker between the carbonyl and the catechol moiety as well as the presence of the α,β‐unsaturated carbonyl group was also explored. The sinapic acid phenethyl ester (10), which can be named SAPE (10) by analogy to caffeic acid phenethyl ester (CAPE), inhibited 5‐LO in a concentration‐dependent manner and outperformed both zileuton (1) and CAPE (2). With an IC50 of 0.3 μm, SAPE (10) was threefold more potent than CAPE (2) and 10‐fold more potent than zileuton (1), the only 5‐LO inhibitor approved for clinical use. Unlike CAPE (2), SAPE (10) had no effect on 12‐lipoxygenase (12‐LO) and less effect on cyclooxygenase 1 (COX‐1) which makes it a more selective 5‐LO inhibitor.