High‐performance and recyclable high valence oxides of ruthenium catalyst had been released safely from commercially available ruthenium carbon catalyst in situ. They could selectively oxidize C=C bonds to corresponding aldehydes or ketones in 78%–99% yields and C ≡ C bonds to α‐diketones in 93%–99% yields. The cheap availability, recyclability, safety, and low toxicity of ruthenium carbon might endow the catalyst with great potential in industrial scale unsaturated bond oxidation cleavage applications.