An increasing number of discovered tungstoenzymes raises interest in the biomimetic chemistry of tungsten complexes in oxidation states +IV, +V, and +VI. Bioinspired (sulfur-rich) tungsten(VI) dioxido complexes are relatively prevalent in literature. Still, their energetically demanding reduction directly correlates with a small number of known tungsten(IV) oxido complexes, whose chemistry is not well explored. In this paper, a reduction of the [WO2(6-MePyS)2] (6-MePyS = 6-methylpyridine-2-thiolate) complex with PMe3 to a phosphine-stabilized tungsten(IV) oxido complex [WO(6-MePyS)2(PMe3)2] is described. This tungsten(IV) complex partially releases one PMe3 ligand in solution, creating a vacant coordination site capable of activating dioxygen to form [WO2(6-MePyS)2] and OPMe3. Therefore, [WO2(6-MePyS)2] can be used as a catalyst for the aerobic oxidation of PMe3, rendering this complex a rare example of a tungsten system utilizing dioxygen in homogeneous catalysis. Additionally, the investigation of the reactivity of the tungsten(IV) oxido complex with acetylene, substrate of a tungstoenzyme acetylene hydratase (AH), revealed the formation of the tungsten(IV) acetylene adduct. Although this adduct was previously reported as an oxidation product of the tungsten(II) acetylene carbonyl complex, here it is obtained via substitution at the sulfur-rich tungsten(IV) center, mimicking the initial step of the first shell mechanism for AH as suggested by computational studies.