This short introductory review provides a brief summary of history and recent developments in the field of hypervalent iodine chemistry in connection with the 7th International Conference on Hypervalent Iodine Chemistry (ICHIC-2021, Moscow, 27 th June to 1 st July, 2021). Hypervalent iodine reagents and catalysts are intensively used in modern organic chemistry as mild, environmentally safe, and economical alternative to heavy metal reagents. General features and applications of hypervalent iodine compounds are overviewed.