We have developed a redox-economical coupling reaction of alcohols and alkynes to form allylic alcohols under mild conditions. The reaction is redox-neutral as well as redox-economical and thus free from any additives such as a reductant or an oxidant. This atom-economical coupling can be applied for the conversion of both aliphatic and benzylic alcohols to the corresponding substituted allylic alcohols in a single synthetic operation.