Catalytic reactions that can generate nucleophilic allyl–metal intermediates directly from simple alkenes without prefunctionalization, and ones that produce various homoallylic alcohols diastereo- and enantioselectively are of great importance in organic synthesis. Transformations that accomplish these two tasks simultaneously are in high demand, particularly if the catalysts, substrates and reagents are inexpensive and easy to access. Here we report a catalytic process that chemoselective formation of nucleophilic allyl–cobalt complexes through oxidative allylic C–H cleavage of alkenes followed by site-, diastereo- and enantioselective addition to aldehydes and α-ketoesters. The enantioenriched products that are otherwise difficult to access are obtained in up to 96% yield, with >95:5 dr and 98:2 er. The cobalt-based catalyst is derived from a commercially available chiral phosphine ligand. The utility of the method is demonstrated through enantioselective formal synthesis of lithospermic acid and total synthesis of dihydrodehydrodiconiferylalcohol.