Bis-cyclometalated iron(II) complex [Fe(κC,Nphpy) 2 (CO) 2 ] (1) (phpyH = 2-phenylpyridine) has been prepared in good yield from [Fe(CO) 5 ] and [Hg(phpy) 2 ] in the presence of dibromine, which is unexpectedly a crucial component of the reaction mixture. It is needed for the generation of short-lived reactive intermediate [FeBr(CO) 5 ]Br, which is actually involved in the electrophilic substitution reaction with [Hg(phpy) 2 ]. When irradiated by visible light, compound 1 readily affords bis(2-(pyridine-2-yl)phenyl)methanone ( 2) and iron oxides through the insertion of CO in the Fe−C bond of the cyclometalated moiety. Structures of iron complex 1 and ketone 2 were confirmed by X-ray crystallography. Activation of [Fe(CO) 5 ] by Br 2 represents a new approach for generating an iron intermediate, which is active in transmetalation reactions. Cytotoxic activity of 1 was tested against three gastric cancer cell lines, KATO III, AGS, and NUGC3. The activity against KATO III and NUGC3 cells is moderate, while complex 1 displayed excellent cytotoxicity against AGS cells. The molecular mechanism investigation showed that the cytotoxic activity of 1 appears independent of caspase 3 and the TP53 tumor suppressor gene, suggesting an apoptotic-independent process.