Even though their importance in organic synthesis has grown tremendously, it is not until recently that iodane compounds have been rediscovered by theory and computation. In this chapter, using quantum chemical computation, we will explore the origins of the planar T‐shape equilibrium structures as well as the features of the multicenter bond commonly expressed by λ
3
‐iodanes. This 3‐center‐4‐electron bond, established by the coupling of the bonds between iodine and its two ligands in apical position, will be shown to govern much of the rich and often unusual reactivity of these compounds.
Further, the focus will be on the key steps involved in the electrophilic transfer of ligands (reductive elimination), nucleophilic substitution, and radical mechanisms) using Togni‐type reagents as well as diaryliodonium species. This study will show that once the basic principles of their reactivity are known, control over the outcome of a reaction involving iodane reagents can systematically be achieved. Finally, based on
ab initio
molecular dynamics simulations of the trifluoromethylation of an S‐nucleophile (thiophenol) in different solvents, the full complexity of a reaction where close competition between polar and radical mechanisms occurs, all leading to the same product, will be shown.