Effects of iodine annealing to induce bulk superconductivity in Fe 1+y Te 0.6 Se 0.4 have been systematically studied by changing the molar ratio of iodine to the sample and annealing temperature. The optimal condition to induce bulk superconductivity with T c ~14.5 K and self-field J c (2 K) ~ 5×10 5 A/cm 2 is found to be a molar ratio of iodine of 5-7 % at the annealing temperature of 400 °C. Furthermore, the fact that no compounds containing iodine are detected in the crystal and a significant amount of FeTe 2 is produced after the iodine annealing strongly indicate that the excess iron is consumed to form FeTe 2 and iodine works as a catalyst in this process.