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The title compound, C15H12I2N2O3, was synthesized by the condensation of equimolar amounts of 3,5-diiodosalicylaldehyde and 2-methoxybenzohydrazide in a methanol solution. There are two independent molecules, A and B, in the asymmetric unit. The dihedral angle between the two benzene rings is 30.2 (2)° for molecule A and 21.7 (2)° for molecule B. There are intramolecular O—H...N and N—H...O hydrogen bonds in each molecule. The crystal studied was an inversion twin with a 0.59 (3):0.41 (3) domain ratio.