The current study is an attempt to confirm the possibility of using rafoxanide (Raf) for diagnostic or radiotherapeutic purpose based on the radioiodine used in the labeling process. The isotopic exchange reaction was performed to radiolabel Raf. The maximum radiochemical yield of [125I]Raf (90%) was obtained when 20 μL of Na[125I]I (7.4 MBq (200 μCi)) in the reaction flask was added to 100 μg of Raf (0.799 mM) within 20 min at 140 °C. High pressure liquid chromatography was used to purify the labeled product of [125I]Raf. The activation energy was calculated experimentally in both ethyl acetate and methanol as reaction medium and found to be 22.82 kJ/mol and 24.43 kJ/mol, respectively. Furthermore, Gaussian 09 used the density function theory (DFT) to calculate the activation energy of the reaction in the two solvents.