Delocalized lipophilic cations such as [F-18]fluorobenzyltriphenylphosphonium ([F-18]FBnTP) can accumulate in mitochondria and have been used in myocardial perfusion imaging (MPI). In this study, we established a simplified method for [F-18]FBnTP synthesis using triphenylphosphine hydrobromide (PPh3 center dot HBr) without preparing an intermediate that contains benzyl bromide structure. Applying this new method, we synthesized and evaluated a novel F-18-labeled PEGylated BnTP derivative ([F-18]FPEGBnTP). In vitro cellular uptake study demonstrated that [F-18]FPEGBnTP accumulated in cells in proportion to the relative intensity of mitochondrial membrane potential. Biodistribution study revealed that the heart:liver uptake ratio of [F-18]FPEGBnTP (4.00 at 60min) was superior to that of [F-18]FBnTP (1.50 at 60min). However, [F-18]FPEGBnTP showed slow blood clearance and high radioactivity uptake in bone at 120-min post-injection. These results imply the possibility of [F-18]FPEGBnTP being used as a MPI agent. However, there is a need of further structural optimization and flow-dependent uptake study.