Ir-catalyzed asymmetric cascade allylation/lactonization of indole 2-carboxylates with vinyl cyclic carbonate was successfully developed, which provided efficient access to chiral tricyclic oxazinoindolones with excellent results (up to 85% yield, 99% ee). This protocol could be well extended to pyrroles and other nitrogen-containing aromatic heterocycles. A reasonable reaction pathway was provided on the basis of preliminary mechanistic investigation. Importantly, the key intermediate toward marine alkaloid (+)-agelastatin A could be readily accessible through this methodology.