Addition of selenium to the nickel(I) complex, [Ni(Me4[12]aneN4)(CO)]PF6, effects a redox reaction leading to the diselenido dinickel(II) complex, {[(Ni(Me4[12]aneN4)]2(Se2)}(PF6)2, in 70% crystalline yield. The product's structure features a μ-η(2):η(2)-Se2 ligand with Se-Se bond length of 2.379(13) Å. Upon mild heating, {[(Ni(Me4[12]aneN4)]2(μ-η(2):η(2)-Se2)}(PF6)2 oxidizes 9,10-dihydroanthracene or 1,4-cyclohexadiene forming the terminal hydroselenide, [Ni(Me4[12]aneN4)(SeH)]PF6, and anthracene or benzene, respectively. [Ni(Me4[12]aneN4)(SeH)]PF6 cleanly converts back to the diselenido dinickel(II) adduct upon addition of a phenoxy radical.