The selective epoxidation of 3,3-(1,2-ethanediyl-bisoxy)-5(10),9(11)-estradiene-17-α-(1-propynyl)-17-β-ol with Fe(Ⅱ)Pc/PhIO was investigated at 25 ℃? atmospheric pressure. With a molar ratio of Fe(Ⅱ)Pc∶compound(I)∶PhIO at 6.25∶50∶120, the conversion reaches 100%. The overall yield of the products 5α, 10α-epoxide(2) and 5β, 10β-epoxide(3)is 60%, and the molar ratio of 2 to 3 is {8.39∶}1. The product 5α, 10α-epoxide is identified by melting point and HPLC.