An aerobic oxidation of aldehydes towards carboxylic acids in MeCN using 1 atm of pure oxygen or oxygen in air as the oxidant and a catalytic amount of single component catalyst, Fe(NO3)3·9H2O, has been developed. Carboxylic acids with different synthetically useful functional groups were obtained at room temperature. Two mechanistic pathways have been proposed based on isotopic labeling, NMR monitoring, and control experiments. The practicality of this reaction has been demonstrated by conducting several 50 mmol-scale reactions using pure oxygen or an air-flow of ~30 mL/min.