Homopolymerization of butadiene (Bu) in 1,4-dioxane (Dox) was performed at 70 °C using molecular iodine (I 2 ) in the presence of 4,4'-azobis(4-cyanovaleric acid) (ACVA), resulting in α-carboxyl ω-iodine heterotelechelic polybutadiene. Effect of Dox concentration, molar ratio of ACVA to I 2 and initiator type on the Bu conversion was studied. Inhibition of the reaction by molecular I 2 was observed until complete consumption of the I 2 (induction period). Then, polymerization initiated by carboxyl-functionalized alkyl iodides in situ generated during induction period. ACVA decomposition rate constant (k d ), induction time t ind and k 2 p ∕k t ratio were calculated using Bu conversion as a function of time data. A good agreement between the theoretical and experimental changes in the conversion versus time was observed, indicating accuracy of the kinetic parameters estimated in this work. Experimental t ind was always less that theoretical one. It was attributed to reaction between Bu and I 2 , resulting in butadiene diiodide (I-Bu-I) compound. Formation of I-Bu-I species was further confirmed by 1 H-NMR analysis of end functional groups (i.e. alkyl iodide and allyl iodide) of polybutadiene chains. Based on the 1 H-NMR analysis, [I-Bu-I]/[I 2 ] 0 ratio was obtained for reaction B4 to be 0.235. It was found that among 1,2 and 1,4 additions, 1,2 addition of I 2 to Bu is the dominant reaction. Exchange constant between the growing and dormant species (C ex ) was estimated using GPC and conversion data to be in the range of 3.20-3.94. Then, M n and D evolution with conversion was investigated theoretically. Fraction of − carboxyl, − iodide heterotelechelic PBu chains f HOOC−PBu−I relative to all chains was estimated from 1 H-NMR data to be 87% for reaction B4.