Various 1,4‐diols are easily accessible from alkenes through iron‐catalyzed aerobic hydration. The reaction system consists of a user‐friendly iron phthalocyanine complex, sodium borohydride, and molecular oxygen. Furthermore, the effect of additional ligands on the iron complex was examined for a model reaction. The second hydroxy group is installed by direct C(sp3)H oxygenation, which is based on