Considering the importance of developing powerful catalysts and the pharmacophore characteristics of indole derivatives, we describe a switchable approach for the iron-catalyzed oxidative C(sp3)-H functionalization of indolin-2-ones. Selective transformations displayed excellent activity and chemoselectivity using FeCl2 as the catalyst, air as the oxidant, and alcohol as the solvent. By manipulating the reaction conditions, particularly the choice of solvent, catalyst loading, and reaction sequence, a series of valuable indole derivatives, including isatins and symmetrical and nonsymmetrical isoindigos, were selectively synthesized in good to excellent yields. Furthermore, the gram-scale synthesis of compounds with biological anticancer activity under simple conditions highlights their great potential in practical applications.