This account aims to give a description of the usefulness of diaryliodonium salts in organic chemistry, including their synthesis and applications in the presence and absence of transition metal catalysts. Herein, we briefly summarize the structural properties and reactivity of diaryliodonium salts. We collected several applications of the hypervalent reagents including metal-free arylations of C, O, N and S nucleophiles. Synthesis and functionalization of aromatic and heteroaromatic systems via copper and palladium catalyzed transformations are also discussed in this account.