Vinylaziridines are important building blocks in organic chemistry, especially in the synthesis of nitrogen‐containing heterocycles. The direct and efficient transfer of an appropriate nitrogen source to readily accessible conjugated dienes is a notable methodology. The Pd‐catalyzed oxidative 1,2‐difunctionalization of conjugated dienes through a π‐allyl‐palladium species should be an ideal method for the selective synthesis of vinylaziridines. However, this method faces the challenge of regioselectivity, often resulting in 1,4‐difunctionalization instead. In this study, we developed a Pd‐catalyzed aerobic 1,2‐difunctionalization of conjugated dienes via a π‐allyl‐palladium species to achieve regio‐, site‐ and stereo‐selective aziridination under the synergistic effects of Pd(II), Cu(I), I‐, and O2. The π‐allyl palladium species formed in the system undergoes an unusual iodination process, leading to the formation of an allyl iodide intermediate. Subsequently, the vinylaziridine is obtained through intramolecular SN2' substitution of the allyl iodide.