Iron salts of high oxidation states, Fe(II) and Fe(III), possess strong Lewis acid properties and are able to activate a wide range of functionalities. These properties, associated with low toxicity, abundance, low price together with more practical aspects, are witnessed by the blossoming of this field in the last few years. Beyond traditional activation of CX and CX bonds, more recent applications involving the generation of iron enolates and oxocarbeniums species, and the activation of CC and CC bonds are surveyed. A special emphasis is given to successive electrophilic and/or nucleophilic activations of different functionalities, which allow domino and one‐pot processes.