A new synthetic route to cis‐(CyPNP)Fe(CO)2H (CyPNP=2,5‐bis(dicyclohexylphosphinomethyl)pyrrolyl) has been developed, involving the reaction of (CyPNP)Fe(CO)2Br with NaBH4. The Fe−H bond of this iron hydride is remarkably stable to acids (e. g., HBF4 ⋅ Et2O, HCl, and CH3CO2H) and oxidants (e. g., 1,4‐benzoquinone and galvinoxyl), only leading to the protonation of the β‐pyrrolic carbon and the oxidation of the ligand backbone, respectively. Under 369 nm UV irradiation, cis‐(CyPNP)Fe(CO)2H has been shown to react with ethylene to yield cis‐(CyPNP)Fe(CO)2Et and undergo H/D exchange with C6D6 to form cis‐(CyPNP)Fe(CO)2D and C6D5H. Both processes likely proceed via an initial CO dissociation step to yield (CyPNP)Fe(CO)H as a reactive intermediate.