Interaction of iron chalcogenides (μ‐Ex)[CpFe(CO)2]2 (E = S; x = 2–4, E = Se, x = 1) with propargyl chloroformate (ClCO2CH2C≡CH) in diethyl ether yielded iron(II) chalcogenopropargylcarbonato complexes CpFe(CO)2ECO2CH2C≡CH (E = S (1), Se (2)). These complexes have been characterized by elemental analysis, UV–Vis, IR, and 1H‐ and 13C{1H}‐NMR spectroscopy and single‐crystal x‐ray diffraction techniques. Further, the suitability of complexes 1 and 2 as CO‐releasing molecules (CORMs) for the administration of carbon monoxide has been studied. CO gas is released upon irradiation of THF solution of these complexes in the presence of hemoglobin.