The iridium‐catalyzed cycloisomerization of various alkynoic acids was successfully developed, and a series of five‐, six‐, and especially seven‐membered unsaturated lactones were constructed with moderate yields and excellent regioselectivities (up to 68% yield, >99:1 rr). In addition, the indole compound can be easily prepared with 75% yield through this efficient synthetic methodology. Moreover, a plausible mechanism for this Ir‐catalyzed cycloisomerization of alkynoic acids was proposed.