The synthesis of both the (R)-and (S)-enantiomers of the natural product rugulactone has been achieved. Candida rugosa lipase hydrolyzes the butyrate ester of the protected 3- hydroxy homoallylic alcohol with very high enantioselectivity (E= 244) and provides the key intermediates with high enantiomeric purity (ee 98–99%) and excellent yields.