Iodine is able to catalyze the homocoupling of arylboronic acids in moderate to good yields in PEG‐400 under aerobic conditions. This transition‐metal‐free catalytic system is readily available at low cost, which is practical and useful. It is noteworthy that a high activity of our catalytic system could be maintained under mild conditions (100 °C) by addition of water.(© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2009)