Dibenzyl dicarbonate is primarily used as a protecting agent in organic synthesis, particularly for alcohols and amines. It acts as a benzyloxycarbonyl (Cbz) group donor, which helps shield reactive functional groups during complex chemical reactions. This allows chemists to selectively modify other parts of a molecule without interference. It is commonly employed in peptide synthesis to protect amino groups, ensuring the desired sequence is achieved. Additionally, it finds application in the preparation of pharmaceuticals and fine chemicals, where precise control over molecular structure is critical. Its stability and ease of removal under mild conditions make it a valuable tool in synthetic chemistry.