Transfer hydrogenation reactions offer synthetically powerful strategies to deliver various hydrogenated compounds with the advantages of efficiency, atom economy, and practicability. On one hand, formic acid/formate function as promising hydrogen sources owing to their readily obtainable, inexpensive, and easy to handle nature. On the other hand, Cp*Ir complexes show high activities in transfer hydrogenation. This review highlights progress achieved for transfer hydrogenation of CO, CC, and CN bonds of a variety of unsaturated substrates, as well as amides focusing on Cp*Ir complexes as catalysts and formic acid/formate as hydrogen sources.