Enhanced continental phosphorus input into the ocean has been suggested as a potential trigger for the transient oxygenation events during the mid‐Proterozoic; however, the response of phosphorus cycling to these marine oxygenations remains unclear. Here, we report the changes in phosphorus cycling associated with a ∼1.7 Ga transient oxygenation. Abundant authigenic aluminum phosphate–sulfate mineral svanbergite (SrAl₃(PO₄) (SO₄) (OH)₆; 8.02 ± 4.92 wt%) is identified within the ∼1.7 Ga Yunmengshan ironstones from the Xiong'er Basin, North China and other contemporaneous basins. This observation provides new evidence to support the suggestion that early diagenetic aluminum phosphate‐sulfate minerals could have represented a critical sink of marine phosphorus during the Proterozoic. We suggest that atmospheric oxygenation and concomitant changes in porewater redox chemistry may have enhanced the formation of early diagenetic phosphates, leading to a negative feedback on the oceanic phosphorus reservoir and atmospheric oxygen levels.