Herein, the sulfhydrylation and oxylation of olefins were completed under visible light irradiation with iodine as catalyst, which realized more economical and green chemical conversion because of the absence of metal complexes or organic dyes. A series of bifunctional modifications of olefins were achieved with good yields by using diol derivatives and water as nucleophiles. In addition, the control experiments show that the reaction is a free radical process.