Hypervalent iodine(III) compounds with tetrazole ligands C6H5I(N4CR)2 (R CH3, C6H5, 4‐CH3C6H4) reacted, in the presence of elemental iodine, with the double bonds in cis‐1,4‐polyisoprene (polyIP) to afford iodo‐tetrazolylated polymers. The alkyl‐iodide groups in the products of the polyIP functionalization were utilized as macro chain‐transfer agents for the iodine‐transfer polymerization of methyl methacrylate, which yielded brush polymers with well‐defined poly(methyl methacrylate) side chains. In addition, the iodo‐tetrazolylated polymers were reacted with NaN3 in DMF at room temperature, and it was noticed that, in addition to nucleophilic substitution, elimination reactions took place. However, the presence of azide groups was taken advantage of and successful click chemistry‐type of grafting‐onto reactions were carried out with alkyne‐capped poly(ethylene oxide) in the presence of CuBr and N,N,N′,N″,N″‐pentamethyldiethylenetriamine. The thermal decomposition of both the iodo‐tetrazolylated and the azido‐tetrazolylated polymers was exothermic, especially for the latter materials. © 2019 Wiley Periodicals, Inc. J. Polym. Sci. 2020, 58, 172–180