The insertion of carbenes derived from ethyl diazoacetate (EDA), methyl diazoacetate (MDA), methyl phenyldiazoacetate (MPDA), and methyl (p-tolyl)diazoacetate (MTDA) into the S−H bonds of aromatic and aliphatic thiols was catalyzed by (5,10,15,20-tetratolylporphyrinato)methyliridium(III), Ir(TTP)CH 3 , at ambient temperatures. Yields of the resulting thioether products were as high as 97% for aromatic thiols, with catalyst loadings as low as 0.07 mol %. Thiol binding to Ir(TTP)CH 3 was measured at 23 °C by titration studies, providing equilibrium constants, K b , ranging from 4.25 × 10 2 to 1.69 × 10 3 and increasing in the order pnitrobenzenethiol < p-chlorobenzenethiol < benzenethiol < p-methylbenzenethiol < pmethoxybenzenethiol < benzyl mercaptan. Hammett plots were generated from the relative rates of S−H insertion, using different para-substituted benzenethiols in substrate competition experiments. In the presence of MDA and MTDA, the Hammett plots had slopes of −0.12 ± 0.01 and −0.78 ± 0.11, respectively. The Hammett data and kinetic studies are consistent with a mechanism that involves a rate-limiting nucleophilic attack of thiols on an iridium-carbene species, where the major species present in the reaction solution is an inactive, hexacoordinate Ir-thiol complex.