Molybdenum complexes of the general formula Mo(PN)(CO)4 containing both achiral and chiral phosphorus‐nitrogen donor bidentate ligands based on 2‐aminopyridine were prepared and characterized by their NMR and IR spectra. The oxidative addition of allyl bromide to Mo(PN)(CO)4 was studied with PN = N‐(diisopropylphosphanyl)‐2‐aminopyridine (PN‐iPr). X‐ray structures of representative compounds were determined. The mechanism of the oxidative addition of allyl bromide to Mo(PN‐iPr)(CO)4 was analyzed by DFT/B3LYP calculations. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2009)