Widely used as a highly efficient ruthenium-based catalyst in olefin metathesis reactions, particularly in ring-closing metathesis (RCM), cross-metathesis (CM), and ring-opening metathesis polymerization (ROMP). Its enhanced stability and reactivity, due to the bulky N-heterocyclic carbene (NHC) ligand and tricyclohexylphosphine, make it effective for forming complex cyclic and macrocyclic structures in pharmaceuticals, natural products, and advanced materials. It performs well under mild conditions and tolerates a variety of functional groups, enabling applications in fine chemical synthesis and drug development. Commonly known as a second-generation Grubbs–Hoveyda type catalyst, it is favored for its ease of handling and improved turnover numbers compared to earlier analogs.