Several reactions mended by hypervalent iodine reagents have been developed in aqueous media recently. The evolution of reactions using hypervalent iodine reagents in aqueous medium is one of the most vital fields in organic synthesis to achieve one of the requirements of green chemistry. Hypervalent iodine reagents have the potential to replace toxic metals in numerous chemical reactions viz. oxidation reactions, coupling reactions, α-functionaliztion reactions, cyclization reactions and halogenations reactions etc. due to their stability, high selectivity, easy and simple experimentation, less toxic nature. In a chemical reaction solvents are required for several functions viz. in extractions, reactants solubility, washing and separation of final products. Water as a medium represents a safe, non-toxic, inexpensive and environmentally friendly alternative to toxic organic solvents for various organic reactions. The evolution of hypervalent iodine reagents with modified reactivities in aqueous phase now enable such chemical reactions which were thought to be illogical only a century ago. Therefore, in the present review, we summarize the various aqueous mediated reactions involving hypervalent iodine reagents.