The rate of reaction between two hypiodite ions in aqueous ethanol mixtures at 275 K is retarded by increasing the ethanol content of the medium. The closest distance of approach of reacting ions indicate that the shape of the activated complex is more similar to a double sphere model. Electrostatic and non- electrostatic (kJ/mole) contributions to the changes in free energy of activation are 12.4 and 80.45 in 0.156 mole fraction of ethanol and 7.54 and 82.66 in water. A change in entropy from - 34.9 JIK/mole in water to -57.40 JIK/mole in 0.156 mole fraction of ethanol indicate that a highly ordered activated complex is formed at a higher concentration of ethanol in the mixed solvents. The logarithm of the rate constant is found to be a linear function of 11El/2 in the proposed equation.