We use the theory of noise-induced phase synchronization to analyze the effects of dispersal on the synchronization of a pair of predator–prey systems within a fluctuating environment (Moran effect). Assuming that each isolated local population acts as a limit cycle oscillator in the deterministic limit, we use phase reduction and averaging methods to derive a Fokker–Planck equation describing the evolution of the probability density for pairwise phase differences between the oscillators. In the case of common environmental noise, the oscillators ultimately synchronize. However the approach to synchrony depends on whether or not dispersal in the absence of noise supports any stable asynchronous states. We also show how the combination of partially correlated noise with dispersal can lead to a multistable steady-state probability density.