The isolation and structural characterization by X-ray diffraction of (PPh3)2(O)(I)Re(H)OBcat 1 and (PPh3)2(O)(I)Re(H)OBpin 2 from the reaction of ReIO2(PPh3)2 with the boranes catecholborane (HBcat) and pinacolborane (HBpin) unequivocally shows the first example of activation of B–H bond by a high valent oxo-rhenium complex.