Abstractμ‐Oxodiiron(III) species are air‐stable and unreactive products of autoxidation processes of monomeric heme and non‐heme iron(II) complexes. Now, the organometallic [(LNHC)FeIII‐(μ‐O)‐FeIII(LNHC)]4+ complex 1 (LNHC is a macrocyclic tetracarbene) is shown to be reactive in C−H activation without addition of further oxidants. Studying the oxidation of dihydroanthracene, it was found that 1 thermally disproportionates in MeCN solution into its oxoiron(IV) (2) and iron(II) components; the former is the active species in the observed oxidation processes. Possible cleavage scenarios for 1 are shown by scrambling experiments and structural characterization of an unprecedented adduct of 1 and oxoiron(IV) complex 2. Kinetic analysis gave an equilibrium constant for the disproportionation of 1, which is very small (Keq=7.5±2.5×10−8 m). Increasing Keq might by a useful strategy for circumventing the formation of dead‐end μ‐oxodiiron(III) products during Fe‐based homogeneous oxidation catalysis.