Density functional theory (DFT) was used to investigate the Rh(I)-catalyzed intermolecular hydroacylation of vinylsilane with benzaldehyde. All intermediates and transition states were optimized completely at the B3LYP/6-31G(d,p) level (LANL2DZ(f) for Rh). Calculations indicated that Rh(I)-catalyzed intermolecular hydroacylation is exergonic, and the total free energy released is −110 kJ mol−1. Rh(I)-catalyzed intermolecular hydroacylation mainly involves the active catalyst CA2, rhodium–alkene–benzaldehyde complex M1, rhodium–alkene–hydrogen–acyl complex M2, rhodium–alkyl–acyl complex M3, rhodium–alkyl–carbonyl–phenyl complex M4, rhodium–acyl–phenyl complex M5, and rhodium–ketone complex M6. The reaction pathway CA2 + R2 → M1b → T1b → M2b → T2b1 → M3b1 → T4b → M4b → T5b → M5b → T6b → M6b → P2 is the most favorable among all reaction channels of Rh(I)-catalyzed intermolecular hydroacylation. The reductive elimination reaction is the rate-determining step for this pathway, and the dominant product predicted theoretically is the linear ketone, which is consistent with Brookhart’s experiments. Solvation has a significant effect, and it greatly decreases the free energies of all species. The use of the ligand Cp′ (Cp′ = C5Me4CF3) decreased the free energies in general, and in this case the rate-determining step was again the reductive elimination reaction.