An iodine mediated base‐controlled reaction between 2‐(pyridin‐2‐yl)acetate derivatives and acrylic esters has been developed for the selective synthesis of 1,3‐disubstituted indolizines and 1,2‐disubstituted indolizines. A single‐pot reaction of 2‐(pyridin‐2‐yl)acetate derivatives and acrylic esters in the presence of CsOAc delivers 1,3‐disubstitued indolizines, while KHCO3 promotes the formation of C3‐iodo indolizines, which could be further de‐iodinated in the presence of copper powder, affording 1,2‐disubstituted indolizines via a sequential stepwise fashion. A plausible reaction mechanism involving radical process has been proposed for this reaction. Pd‐catalzyed reaction of C3‐iodo indolizines with aryl boronic acids has been described.