While 1,1′-biaryl diols and amino alcohols are privileged scaffolds, their streamlined catalytic synthesis with unsymmetrical substitution patterns remains a daunting challenge. Herein, we describe a ruthenium(II)-catalyzed synthesis of unsymmetrical 1,1′-biaryl-2,2′-diols via deformylative coupling of ortho-hydroxy aromatic aldehydes with diverse cyclic diazo compounds. The protocol is operationally simple and scalable and involves intriguing C−C bond activation and carbene insertion cascade to produce a range of diversely functionalized biaryldiols in very high yields and regioselectivity. The methodology is also suitable to access heterobiaryl amino alcohols bearing indole motif, applicable in challenging 2-fold C−C activation leading to valuable tetrahydroxy bis-biaryls, and retains efficacy in the site-selective modification of pharmaceutical agents. DFT studies have also been conducted to illustrate the intricacy of this catalytic cycle.