is commonly synthesized via a precipitation reaction between potassium iodide  and lead(II) nitrate () in water solution:
While the potassium nitrate  is soluble, the lead iodide  is nearly insoluble at room temperature, and thus precipitates out.
Other soluble compounds containing lead(II) and iodide can be used instead, for example lead(II) acetate and sodium iodide.
The compound can also be synthesized by reacting iodine vapor with molten lead between 500 and 700 °C.
A thin film of  can also be prepared by depositing a film of lead sulfide  and exposing it to iodine vapor, by the reaction
The sulfur is then washed with dimethyl sulfoxide.