In recent years, an explosive growth of reactivities of hypervalent iodine reagents has witnessed and these reagents, featuring facile availability and easy handleness, offer multiple advantages over establised methods as an efficient multipurpose oxidants, whose reactivities are similar to derivatives of mercury, chromium, lead, thallium and other heavy metals, but without the toxicity and environmental problems of these heavy metal agents. Thus, hypervalent iodine reagents have received much more attention from the synthetic chemists. This account mainly summarizes our recent research progress in the area of hypervalent iodine chemistry, especially focusing on the excellent performances and unique applications brought about by the new hypervalent iodine reagents and new combinations of them both developed in our group: (1) first utilization of a recyclable iodine(III) reagent iodosodilactone for the direct esterification, amidation and peptide synthesis and high efficient liquid-phase oligo-peptide synthesis mediated by a more powerful iodosodilactone-type reagent, 6-(3,5-bis-(trifluoromethyl)phenyl)-1H,4H-2aλ 3 -ioda-2,3-dioxacyclopenta[hi]indene-1,4-dione (FPID); (2)