Osmium chloride OsCl3 efficiently catalyzes (yields of products up to 90%, turnover numbers (TON) up to 1500) the oxidation of 2-cyanoethanol with hydrogen peroxide to produce the corresponding aldehyde and acid. Oxidation of isopropanol over OsCl3 gave acetone in 58% yield. The reactions were carried out either in acetonitrile or without any solvent. The analogous iron compound FeCl3 was found to be less efficient in the oxidation of 2-cyanoethanol (yields of products up to 67%, TON up to 135). Oxidation of isopropanol in this case gave acetone (yield 53%) and acetic acid (yield 11%). Some other soluble derivatives of iron or osmium exhibited noticeably lower catalytic activity in the alcohol oxidation with H2O2.