Supramolecular catalysis based on host-guest interactions has aroused much attention in past decades. Among the various strategies, modulation of the reactivity of key intermediates is an effective strategy to achieve high-efficiency supramolecular catalysis. Here, we report that by utilizing the host-guest interaction of cucurbit[7]uril (CB[7]), the reactivity of anionic enolate and cationic oxonium, the intermediates of H/D exchange of the α-carbonyl hydrogen in alkali and acid conditions, respectively, could be modulated effectively. On one hand, in alkaline conditions, both the electrostatic effect and the steric hindrance effect of CB[7] disfavored formation of the enolate anion intermediate. On the other hand, in acidic conditions, the oxonium was stabilized and the solvent effect was weakened by the electrostatic effect of CB[7]. As a result, the H/D exchange of 1-(4-acetylphenyl)-N,N,N-trimethylmethanaminium bromide is decelerated in alkaline and accelerated in acidic conditions. It is promising that the highly polar portals of CB[n] molecules together with their well-defined host-guest chemistry may be applied to modulate the reactivity of other kinds of ionic intermediates in an effective and convenient way, thus enriching the toolkit of supramolecular catalysis.