A new method for one-step synthesis of ketones from biobased 5-hydroxymethylfurfural (5-HMF) and its derivatives is reported. Bipyridine coordinated Cp*-Iridium(III) complexes (Cp*, 1,2,3,4,5-pentamethylcyclopenta-1,3-diene) exhibit highly efficient catalytic performance for hydrogenation/hydrolytic ring opening of 5-HMF and derivatives to produce ketones. The catalytic mechanism is proposed to proceed via carbonyl hydrogenation, hydroxyl group promoted and directed hydrolytic furan ring opening, followed by hydrogenation of α,β-unsaturated carbonyl compound based on the experimental and independent events' statistical calculation results.