A new nonheme iron(II) complex, FeII(Me3TACN)((OSiPh2)2O) (1), is reported. Reaction of 1 with NO(g) gives a stable mononitrosyl complex Fe(NO)(Me3TACN)((OSiPh2)2O) (2), which was characterized by Mössbauer (δ=0.52 mm s−1, |ΔEQ|=0.80 mm s−1), EPR (S=3/2), resonance Raman (RR) and Fe K‐edge X‐ray absorption spectroscopies. The data show that 2 is an {FeNO}7 complex with an S=3/2 spin ground state. The RR spectrum (λexc=458 nm) of 2 combined with isotopic labeling (15N, 18O) reveals ν(N‐O)=1680 cm−1, which is highly activated, and is a nearly identical match to that seen for the reactive mononitrosyl intermediate in the nonheme iron enzyme FDPnor (ν(NO)=1681 cm−1). Complex 2 reacts rapidly with H2O in THF to produce the N‐N coupled product N2O, providing the first example of a mononuclear nonheme iron complex that is capable of converting NO to N2O in the absence of an exogenous reductant.